JEDA Bonds Help Anderson University Expand, Pay Off Older Debt

ANDERSON, SC – Anderson University is using $32.2 million in tax-exempt revenue bonds from the South Carolina Jobs-Economic Development Authority (JEDA) to finance new facilities and re-finance older debt at favorable new terms.

The financed projects include an athletics campus, nursing school, residence hall and student center.

Anderson University currently employs 611 people. The bond issue is expected to create three new jobs within 12 months of completion of the project. Anderson University had 2,507 students enrolled during the fall 2014 semester, an increase of 227 students over the previous year’s enrollment.

“We’re pleased to be able to refinance our previous bonds, which allowed us to serve our student body’s needs then, as well as to be able to continue to develop our campus and facilities with new bond issues as we continue to grow,” said Evans P. Whitaker, Ph.D., President of Anderson University.

“We know what an impact increasing student enrollment has had for Anderson University and for the City of Anderson, as well, and we feel privileged to be able to play a role in facilitating the enrollment growth at this highly regarded institution,” said Bond Counsel Kathy McKinney with Haynsworth Sinkler Boyd, P.A., in Greenville.

“Our work with Anderson University goes back many years, and we are pleased to be able to continue to work with them to refinance loans and issue new bonds to help this outstanding institution continue to grow,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.

Individual JEDA bond issues

• A $12.6 million Series 2014 educational facilities refunding revenue issue used to refinance prior loans, including a 2004 bond issue, that financed land for an athletics campus and provided funds for a nursing school and residence hall.
• A $7.8 million Series 2014 educational facilities revenue bond issue to pay for a new residence hall and academic venues to accommodate growth at the school.
• An $11.8 million Series 2015 revenue bond for a new student center.

About JEDA

For more than 31 years, JEDA has promoted the business and economic welfare of South Carolina by assisting in the financing of public and private projects throughout the Palmetto State. JEDA serves as a statewide conduit issuer of special obligation revenue bonds and acts on behalf of the borrower to access financial markets and capital. Since its creation in 1983, JEDA has facilitated the issuance of 459 bonds for over $8.6 billion and resulting in the creation and retention of more than 215,072 jobs.

For more information regarding JEDA, please visit our website at www.scjeda.com or contact
Harry A. Huntley, CPA, Executive Director, at (803) 737-0268 or [email protected].

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