HJ Sims closes $25.515 million Series 2022 bond for Texas public charter school

FAIRFIELD, Conn., June 8, 2022 /PRNewswire/ — HJ Sims (Sims), a private investment bank and wealth management firm founded in 1935, is pleased to announce the May 2022 closing of $25.515 million Series 2022 Bonds for San Antonio, TX public charter school, The Gathering Place. Thanks to the funding, The Gathering Place now owns its permanent facility, providing educational space for over 800 students annually.

Believing that physical environments are an integral part of its learning program, The Gathering Place sought funding to enable the purchase of its current leased facility and the construction of a play area. The school charter was granted in 2019 and is effective for the 2020-21 to 2024-25 school year. Currently training 501 students in the “Near Northwest” neighborhood of San Antonio, the school was founded to provide students in historically underserved communities with a high-quality education that promotes academic achievement, creativity, and healthy social and emotional development. The school plans to grow to 832 K-5 students by 2023-24, the school also plans to open a middle school in 2024-25. Ultimately, the school aims to serve 1,404 K-8 students by 2026-27.

The tax-exempt series 2022A and the series 2022B The taxable education tax bonds enabled The Gathering Place to purchase the land and buildings, provided funds to build a playground, as well as funded a debt service reserve fund and covered issuance costs. The bonds have been structured with a 40-year amortization, allowing for the lowest annual debt service, and with a 5-year call option at par, it is intended to synchronize with both future purchase of a college institution and the potential for decline. financing costs if the school qualifies at that time for the Texas Permanent School Fund’s “AAA” rated bond guarantee program.

“We are privileged to help The Gathering Place achieve this major goal, and the impact it will have on expanding and improving the quality of education for children of San Antonio and their community,” said Rob Nickelexecutive vice president at Sims.

“This was The Gathering Place’s first experience in the bond market, and we couldn’t have imagined a better partner to help us through the process. The Sims provided consistent and reliable support every step of the way. We are a young organization going to market in turbulent times and coming away with a lot,” said Asia Klekowicz and Ryan Yorkco-CEO, The Gathering Place.

Financed Right® Solutions—Rob Nickell: [email protected] Where 214.681.0952

ABOUT HJ SIMS: Founded in 1935, HJ Sims is a private investment bank and wealth management firm. Based at Fairfield, Connecticut, Sims has investment banking, private wealth management and business sites nationwide. Member FINRA, SIPC. Testimonials may not be representative of another customer’s experience. Past performance is not indicative of future results. Facebook, LinkedIn, Twitter, Instagram.

CONTACT: Rebecca Brady, Marketing & Brand Director | 203-418-9077 | [email protected]


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