News

HBJ's Greg Bordonaro recently interviewed Jeffrey A. Asher on CHEFA's financing options, and what the Authority is doing to meet the needs of nonprofits in Connecticut.

To read the article, visit http://www.hartfordbusiness.com/news11391.html

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. 

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.

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.