CSCDA Closes $35,000,000 Tax-Exempt Loan for Head-Royce School

October 21, 2020

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the closing of a $35,000,000 tax-exempt loan for the benefit of Head-Royce School located in Oakland, California.

About Head-Royce School:

Head-Royce was formed in 1887 in Berkeley, California as the Anna Head School for Girls.  It relocated its campus in 1964 and now occupies a 22-acre campus in a residential area of Oakland.  Since 1979, it has been an independent, college-preparatory, coeducational, nondenominational school enrolling students in grades K through 12.  The mission of Head-Royce is to inspire in its students a lifelong love of learning and pursuit of academic excellence, to promote understanding of and respect for the diversity that makes our society strong, and to encourage constructive and responsible global citizenship.

About the Financing:

CSCDA partnered with First Republic Bank and Hawkins, Delafield & Wood, LLP to provide the $35,000,000 tax-exempt loan for Head-Royce.  The new loan will refinance Head-Royce’s existing educational facility loans and also provide new funding for a capital project associated with the expansion of the south side of the school campus.

About CSCDA:

CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 530 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $65 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

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