JEDA Issues $73.3 Million In Bonds for Charleston Southern Expansion, Improvements, Refinancing
North Charleston, SC — Charleston County
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $73,287,975 in Economic Development Revenue Bonds for improvements and refinancing at Charleston Southern University.
The bonds will finance the construction of an approximately 208-bed residential facility and for renovations of existing dining facilities for the 3,800-student school. The bond issue was also used to refund prior debt used for science, health-science and residential facilities and other infrastructure projects on the North Charleston campus, which has 438 existing faculty and staff.
“The ability to take on new obligations and consolidate our prior debt is a major win for the university and sets us on a path for continued success. The future is bright at Charleston Southern University.”
Shannon Morrison, Vice President for Finance and Chief Financial Officer at Charleston Southern
“We’re pleased that Charleston Southern let us guide them through the complex process of accessing and issuing revenue bonds. It was a privilege to work with them,” said Lawrence Flynn, Bond Counsel with Pope Flynn in Columbia.
“JEDA has a long-standing history of assisting institutions of higher education seeking to finance their capital needs for facilities and maintain their ability to serve and grow in South Carolina. Working with Charleston Southern on this bond issue adds to that record and we appreciate the opportunity,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
