ROOSEVELT UNIVERSITY ANNOUNCES SUCCESSFUL DEBT RESTRUCTURING WITH PRESTON HOLLOW CAPITAL

Chicago, IL, [DATE] – Roosevelt University, a leading higher education institution dedicated to social justice and to making higher education available to all students who qualify academically, regardless of their background, today announced that it has completed a successful debt restructuring that provides significant relief from debt service obligations and allows the University to reallocate funds towards completion of its turnaround plan. The refinancing, which closed in late September, included refunding of $195 million of debt.

The bonds were issued by the Illinois Finance Authority and placed with Dallas-based Preston Hollow Capital.  Wells Fargo Securities served as underwriter on the financing, with Mayer Brown serving as underwriter’s counsel.  Katten Muchin Rosenman served as bond counsel and Columbia Capital Management, LLC served as financial advisor.

Roosevelt’s Chief Financial Officer, Andrew Harris, commented, “We are very pleased with our debt restructuring plan, which provides much-needed fiscal certainty and a refunding that supports our ‘Building a Stronger Roosevelt’ turnaround plan. Consistent with this plan, we are also pursuing complementary operational and administrative initiatives that, in the aggregate, will help put Roosevelt and our unique mission on solid ground for decades to come.”

Mr. Harris continued, “I want to thank our financial partners at Wells Fargo and Preston Hollow Capital, who worked expeditiously and effectively to craft a refinancing package.”

Jim Thompson, Preston Hollow Capital’s Chairman and CEO, added, “Roosevelt University’s unique educational mission empowers students to make a positive, ethical impact in their communities.  We were proud to partner with Roosevelt to facilitate this laudable goal through a financial restructuring plan that prioritizes funding for students and academic excellence, enhances the school’s standing, and creates a solid balance sheet for the future. “

In addition to the debt reduction efforts announced today, the “Building a Stronger Roosevelt” Plan includes increasing enrollment and developing new online academic programs that target non-traditional students.

 

About Roosevelt University

Roosevelt University, a private institution founded in 1945 on the principles of inclusion and social justice, has more than 4,500 students in five colleges. With campuses in the Chicago Loop and northwest suburban Schaumburg, Roosevelt offers 70 undergraduate and 40 graduate programs across five colleges and online, including arts and sciences, business, performing arts, education and pharmacy.

 

 

About Preston Hollow Capital

Preston Hollow Capital (www.phcllc.com) is the leading solution provider in municipal finance. Headquartered in Dallas, Preston Hollow Capital is an independent municipal finance company with over $1.3 billion in permanent equity capital and over $2.6 billion in investment capacity from a diverse investor base comprised of founding management, institutional investors including funds managed by Stone Point Capital LLC and HarbourVest Partners, and several prominent family offices. Since being founded by Chairman & CEO Jim Thompson in 2014, Preston Hollow Capital has closed nearly $2 billion in transactions across a variety of sectors of the municipal bond market including real estate, senior living, K-12 and higher education, healthcare, infrastructure, general government and economic development. Preston Hollow Capital differentiates itself with its ability to deliver capital with speed, certainty and flexibility.

For information, contact:

Max Pickle, Preston Hollow Capital

214.389.0813 mpickle@phcllc.com