Goodwin University

Overview

Deal Type Debt Capital Markets
Size $47.1 Million
State of Connecticut Health and Educational Facilities Authority (CHEFA) Revenue Bonds
Goodwin University Obligated Group Issue Social Bonds
Client & Transactional Partners Goodwin University
University of Bridgeport
Our Role Senior Manager

Summary

On June 26, 2024, KeyBanc Capital Markets served as Senior Manager on the sale of $47.1 million of the State of Connecticut Health and Educational Facilities Authority Revenue Bonds, Goodwin University Obligated Group Issue Social Bonds, Series A-1 Tax-Exempt Social Bonds, and Series A-2 Federally Taxable Social Bonds (the Bonds). The Bonds were issued to (i) refinance certain existing debt facilities, (ii) fund strategic capital projects, and (iii) pay costs of issuance. 

Established in 1999 in East Hartford, Connecticut, Goodwin is a private nonprofit university that provides career-focused undergraduate and graduate degree programs to about 3,000 students. Goodwin has grown through initiatives such as: establishment of a four-school magnet school system, which enrolls about 1,200 students; development of real estate enterprises dedicated to serving surrounding community; establishment of a foundation to facilitate charitable giving for students and endowment at Goodwin; and the acquisition of the University of Bridgeport, a private nonprofit university located in Bridgeport, Connecticut, serving about 4,200 students. These five “pillars” of operations form the Obligated Group for the Bonds.

B I Deal Disclosure

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and by its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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