Stone Ridge School

Maryland Health and Higher Education Facilities Authority
Series 2019 A&B Bonds
(Stone Ridge School Issue)

Wye River Group Served as Stone Ridge’s Independent Financial Advisor for this Transaction.

Project Overview

Wye River served as Stone Ridge’s independent financial advisor in connection the refinancing of its outstanding debt and the financing of new capital projects including an approximately 54,000 SF Student Life Center, infrastructure improvements and related site work.

Financing Overview

The School’s financing involved the refinancing of approximately $8.9 million of outstanding debt with approximately $31.1 million of “new money” for the various capital projects described above. Stone Ridge received several highly-competitive proposals pursuant to a competitive financing solicitation conducted by Wye River Group. Leadership of the School selected a lender which provided a 20 year fixed rate commitment for the permanent debt component of its financing and very attractive variable rate terms for the interim debt component of its financing (which is scheduled to be repaid with proceeds of the School’s Capital Campaign). The transaction closed successfully on the School’s preferred schedule in June 2019.