Wofford College Refinances Residential Living Projects

Posted on March 2, 2021 - News, Success Story

Spartanburg, SC — Spartanburg County

Wofford College is using a $17.65 million bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to refinance debt used for upgrades of the Spartanburg school’s residential facilities.

The economic development revenue refunding bonds will be used to refund 2010 issues that financed extensive renovation of existing dormitories and construction of new dorms and apartments at the 175-acre Upstate campus.

Wofford was founded in 1854 and is one of the few four-year institutions in the Southeast still located on its original site, which now includes a national arboretum, and is home to more than 1,700 students.

“The sweeping upgrades of our residential offerings was a major move forward for Wofford a decade ago. Refinancing that work through JEDA helps us conserve critical financial resources today.”
— Chris Gardner, the school’s Chief Financial Officer

“Assisting Wofford through the complexities of public financing was a privilege and we congratulate the school on taking this step to help secure its fiscal future,” said Kimberly Witherspoon, Bond Counsel at Haynsworth Sinkler Boyd, P.A., in Greenville.

“Today’s favorable market conditions make tax-advantaged refinancing a sound economic decision and we are pleased to help Wofford College leverage this opportunity,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.