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TEST CHEFA Bond Issue Provides $7.9 million of Financing for Hopkins School

 

Hartford and New Haven, CT – December 11, 2009

CHEFA produces its first issue of 'capital ideas'.

Inside this issue: 

New Capital Financing Products

The federal government recently unveiled new capital-financing programs to assist nonprofit borrowers in meeting their capital financing needs.

CHEFA Modifies Healthcare Underwriting Guidelines Criteria

In response to the lack of credit enhancement options for our borrowers and in order to provide continued access to capital, the Authority has modified its underwriting guidelines to enable borrowers to issue bonds based on the institution's own credit rating. 

Hopkins School Series C Press Release, December 12, 2009

Click on attachment for press release

Ethel Walker School Reduces Interest Rate Risk with CHEFA Bond Issue

The Ethel Walker School has closed an $8.2 million tax-exempt bond issue through the Connecticut Health and Educational Facilities Authority (CHEFA).  Proceeds of the bond issue were used to refinance the school’s existing bonds.  The refinancing allowed the school to convert its existing debt from a variable rate to a fixed rate and significantly reduce its interest rate risk.

Press Release from CCADV: CHEFA Supports Domestic Violence Services

The attached is a press release from the Connecticut Coalition Against Domestic Violence.

Appointment of Financial Advisors - May 26, 2009

The Board of Directors approved the following firms for Financial Advisors for a term not to exceed three years: 

  • Acacia Financial Group
  • Lamont Financial Services
  • P. G. Corbin & Company, Inc.
  • Public Financial Management, Inc.

Appointment of Special Counsel to CHEFA

The following firms were appointed on April 28, 2009 as Special Counsel to CHEFA:   Carmody & Torrance LLP, McCarter & English LLP, and Shipman & Goodwin LLP.

New Healthcare Tax-Exempt Financing Options, April 2009

  • CHEFA Modifies its Healthcare Underwriting Guidelines/Criteria
  • New Tax Law Changes Broaden the Investor Base for Tax-Exempt Debt

Fidelity Investments announces participation in U.S. Treasury Temporary Guarantee Program for Money Market Funds, October 2008

Fidelity Investments and the Board of Trustees of Fidelity’s money market funds have determined that all of Fidelity’s retail and institutional money market mutual funds will participate in the U.S. Treasury Department Temporary Guarantee Program for Money Market Funds.  Click on attachment for remaining article.

CHEFA Construction Fund Clients-Client Reinvestment Statement, October 6, 2008

The attached letter has been in response to inquiries from clients about the reinvestment of bond funds managed by the Authority in light of the current market conditions. It contains an overview of the Authority’s policy which directs the reinvestments, as well as a summary of the primary fund in use for the reinvested funds.

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