Fairfield University seeks to bond $30M for capital projects
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The Dolan School of Business at Fairfield University.
Fairfield University is looking to use $30 million in bonded debt to fund various capital projects at its campus, including student housing enhancements, the school confirmed.
Fairfield University is looking to bond the money through the Connecticut Health and Education Financing Authority (CHEFA), a quasi-public state agency that issues bonds on behalf of not-for-profits as a way to access tax-free financing.
CHEFA said on its website that the Jesuit university with about 6,000 students, at 1073 N. Benson Road, is seeking the money “to fund capital projects.”
The university has 36 buildings on a 200-acre campus and owns a bookstore in downtown Fairfield.
“Fairfield University plans to use the $30 million in CHEFA bond proceeds to support capital projects aligned with its strategic growth initiatives,” Jennifer Anderson, the school’s vice president of marketing and communications, told the Hartford Business Journal. “These will include student housing enhancements including renovations and upgrades, as well as campus infrastructure projects all aimed at reinforcing Fairfield’s national trajectory and Jesuit mission.”
CHEFA said it expects its board of directors to approve the bond offering at its June 18 meeting.
Jefferies LLC is serving as the underwriter and placement agent for the bonds, CHEFA said.
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