Dallas, TX, July 8, 2021 — Preston Hollow Capital (“PHC”), an independent specialty municipal finance company that supports local communities through infrastructure financing, today announced that it has successfully closed a financial restructuring settlement in collaboration with New York-based Blue School. Since its inception in 2006, Blue School has been reimagining education with an inquiry-based approach that fosters creativity, promotes academic excellence, nurtures human relationships and inspires a growing passion for learning.
Significant COVID-related challenges during the 2020-2021 school year resulted in reduced student enrollment and increased operating expenses and compelled the School to right-size its operations for the 2021-2022 school year. Effective June 30, 2021, for example, the School will operate exclusively out of its original Water Street campus, which features well-designed spaces that encourage learning in the most effective ways with endless opportunities for collaboration, exploration and self-expression.
“We are appreciative of PHC’s support, cooperation and substantial financial accommodations in restructuring the School’s debt,” said Mike Jackson, the School’s CFO.
Charlie Visconsi, Preston Hollow’s Co-Head of Originations, added, “We were able to support Blue School in 2016 with their financing that helped support growth and new opportunity. Even as COVID-19 has disrupted certain of those plans, we’re pleased to continue supporting the School in fulfilling its laudable mission.”