PRAG serves a number of statewide higher education financing authorities including those in Alabama, Connecticut, Georgia, Maryland and Virginia.
As an example of our system-wide experience, PRAG has served as financial advisor to the Georgia Higher Education Facilities Authority since the Authority was created in 2006 and authorized to issue revenue bonds to finance the acquisition, construction and equipping of facilities for public colleges, universities and technical colleges in the State of Georgia through the Board of Regents and Technical College System of Georgia.
- Advised on the development of the credit for the program, working with the State of Georgia Financing and Investment Commission, Attorney General’s office, bond counsel and underwriters.
- Developed customized financing model for each bond issue with each project structured individually to meet minimum debt service coverage requirements, and involved capitalizing interest, deferring principal repayment and using different maturity lengths.
- Advised on all aspects of the financing, including selection of the underwriting team, preparation of rating agency presentations and negotiation.
PRAG has served as financial advisor to public and private colleges and universities including The New School, New York Institute of Technology, Saint Michael’s College, Sewanne: University of the South, the University System of Maryland and the University of Virginia. We have advised on educational financing structures ranging from revenue bonds to P3 projects.