James Irwin Charter Schools secured a $26,500,000 refinancing of its Series 2015 and 2016 Notes. The refinancing will help the network of five schools achieve annual debt service savings of approximately $225,000 and eliminate the balloon payments that the 2015 and 2016 Notes featured.
The JICS network consists of the James Irwin Charter High School, the James Irwin Charter Middle School, the James Irwin Charter Elementary School, the James Irwin Charter Academy and the Power Technical Early College. The schools seek to provide the highest quality education while developing the character of their students. The schools are located in Colorado Springs, Colorado on three campuses, covering a total of 64 acres of land.
The 30 year private loan refinancing received a fixed interest rate of 3.95%. Choice Advisors served as JICS’s advisor on the refinancing.