Type of Financing
Everest Academy sought low-cost construction and permanent financing for a new school facility in suburban Chicago, Illinois.
Coughlin underwrote 25 year bonds secured by a confirming letter of credit from the Federal Home Loan Bank of Chicago pursuant a special Federal economic stimulus plan program. These “AAA”-rated bonds have enjoyed weekly interest rates below 0.30%.
Coughlin has completed over $50,000,000 of tax-exempt financings for eight schools in six states for the organization that sponsored Everest Academy of LeMont.