Bond offering will assist funding for two new buildings and a grounds storage facility; bond sale begins October 15
The Wright State University community and its constituents will have the opportunity to participate in a general receipts bond offering that will fund construction of three new facilities: the Classroom Building; the Woods Commons Building; and a grounds storage facility.
The bonds will be sold in $5,000 increments, the basis for a near-$25 million general receipts bond offering that will be available for consumer participation the week of Oct. 15.
“This bond issuance provides the opportunity for the university to capitalize on highly favorable market conditions to fund new facilities that are focused on student success and student engagement. It also allows us to strategically manage our debt service by refinancing over $14 million in outstanding bonds at a lower rate of interest, generating nearly $80,000 per year in positive cash flows, a net present value savings of over $1.2 million,” said Mark Polatajko, Wright State’s vice president for business and fiscal affairs.
Bond sales will be facilitated by Fifth Third Securities, The Huntington Investment Company, and PNC Capital Markets LLC.
Interested Wright State constituents can contact the following people for detailed information about bond purchases: Eric Weigant at Fifth Third Securities, 800-546-6491; Shawn McCombs at the Huntington Investment Company, 937-328-4528; or Bill Spellman at PNC Capital Markets, 866-679-2046.