Bond Financing: “CUBBS & Bonds”
Since its inception in 1997, the AICUP Bond Financing Program has saved more than 40 institutions over $3 million in issuance and interest expenses. Under the program, AICUP members finance anything they would normally finance through other tax-exempt borrowings such as: new construction, renovation, equipment, property acquisition, specific types of refinancing, and reimbursements for particular prior expenditures. AICUP’s highly experienced bond team led by M&T Securities.
This year the Program is proud to offer College & University Bank Bond Securities “CUBBS” a form of security made possible by the recent stimulus legislation which has expanded the use of bank qualified loans.
The Program also offers:
· an alternative to depleting or tying-up cash resources via low-cost access to the tax-exempt market including both fixed and variable rate debt;
· technical expertise, proven streamlined process, and time efficiency;
· ability to aggregate the variable rate borrowings of multiple institutions within a regularly offered composite bond issue, thereby sharing the expenses of bond issuance;
· availability of fixed rate borrowings at the request of any member institution at any time; and
· greater savings to institutions issuing multiple bonds within the same semester.
The AICUP Bond program has produced 18 Composite issues. More than 40 AICUP member institutions have availed themselves of this time saving, cost effective way to access the tax-exempt market while sharing fixed issuance expenses with peer institutions. More than $500 million of bonds have been issued to date. The composite program continues to evolve and now has the added flexibility to use a local authority when cost or other considerations merit this option, as well as Bank Qualified Bonds though the expanded Stimulus Legislation.
For the Bond Finance Update for April 2010, click here
Contact: Linda Eremita, Managing Director of M&T Education Investment Banking & Financial Advisory Services at leremita@mtb.com or 412-350-9849.
Bond Financing: “CUBBS & Bonds”
Since its inception in 1997, the AICUP Bond Financing Program has saved more than 40 institutions over $3 million in issuance and interest expenses. Under the program, AICUP members finance anything they would normally finance through other tax-exempt borrowings such as: new construction, renovation, equipment, property acquisition, specific types of refinancing, and reimbursements for particular prior expenditures. AICUP’s highly experienced bond team led by M&T Securities.
This year the Program is proud to offer College & University Bank Bond Securities “CUBBS” a form of security made possible by the recent stimulus legislation which has expanded the use of bank qualified loans.
The Program also offers:
· an alternative to depleting or tying-up cash resources via low-cost access to the tax-exempt market including both fixed and variable rate debt;
· technical expertise, proven streamlined process, and time efficiency;
· ability to aggregate the variable rate borrowings of multiple institutions within a regularly offered composite bond issue, thereby sharing the expenses of bond issuance;
· availability of fixed rate borrowings at the request of any member institution at any time; and
· greater savings to institutions issuing multiple bonds within the same semester.
The AICUP Bond program has produced 18 Composite issues. More than 40 AICUP member institutions have availed themselves of this time saving, cost effective way to access the tax-exempt market while sharing fixed issuance expenses with peer institutions. More than $500 million of bonds have been issued to date. The composite program continues to evolve and now has the added flexibility to use a local authority when cost or other considerations merit this option, as well as Bank Qualified Bonds though the expanded Stimulus Legislation.
For the Bond Finance Update for April 2010, click here
Contact: Linda Eremita, Managing Director of M&T Education Investment Banking & Financial Advisory Services at leremita@mtb.com or 412-350-9849.