Preston Hollow Announces Financial Restructuring with Blue School
DALLAS--(BUSINESS WIRE)--Jul 9, 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.”
About Preston Hollow Community Capital, Inc.
Preston Hollow Community Capital, Inc. provides specialized impact financing solutions for projects of significant social and economic importance to local communities in the United States. As a team, we bring a decades-long track record of helping communities achieve their financial, sustainability and community impact goals. We do so through a unique partnership model, rigorous and disciplined credit underwriting and creative investment structuring built around delivering speed, certainty, and flexibility to our borrowers.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210709005393/en/
CONTACT: Max Pickle, Preston Hollow Community Capital
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: FINANCE OTHER EDUCATION PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES EDUCATION
SOURCE: Preston Hollow Community Capital, Inc.
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PUB: 07/09/2021 12:52 PM/DISC: 07/09/2021 12:52 PM