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On July 22, 2021, CHEFA issued revenue bonds totaling $90,910,000 for Wesleyan University. The bonds were issued in two series: Series I, a tax-exempt issue totaling $35,390,000 and Series 2021, a taxable issue totaling $55,520,000.
The bonds were sold with the designation of “Green Bonds”, which allows investors to invest directly in projects that the University has identified as promoting environmental sustainability purposes. The tax-exempt proceeds from the transaction will fund the renovation and construction of a 20,000 square foot addition to Wesleyan’s Public Affairs Center. The Public Affairs Center is located in the center of the Wesleyan campus and is one of the most heavily utilized academic buildings. Wesleyan will seek LEEDv4Gold certification for the project.
The taxable bond proceeds will be used to fund the new construction of a 193,000 square foot science center to provide Wesleyan students with modernized laboratory spaces. The new facility will also seek LEEDv4 certification, with an opportunity to reach the Platinum certification level.
CHEFA is proud to support Connecticut’s higher educational institutions as they work to provide Connecticut students with new opportunities to grow and learn.