Preston Hollow Community Capital Closes $202,500,000 Tax-Exempt Pooled Securities (TEPSTM ) Financing
Preston Hollow Community Capital (“Preston Hollow” or “PHCC”), a provider of specialized impact financing solutions for projects of social and economic importance to local communities, announces the February 14, 2024 pricing and February 23, 2024 closing of a $202.5 million Tax-Exempt Pooled Securities (“TEPSTM”) financing through the Public Finance Authority (“PFA”).
- Preston Hollow Community Capital (“Preston Hollow” or “PHCC”), a provider of specialized impact financing solutions for projects of social and economic importance to local communities, announces the February 14, 2024 pricing and February 23, 2024 closing of a $202.5 million Tax-Exempt Pooled Securities (“TEPSTM”) financing through the Public Finance Authority (“PFA”).
- The Certificates are secured by a collateral pool of tax-exempt bonds, the vast majority of which were directly originated by PHCC.
- TEPSTM provides PHCC with an attractive cost of capital, a more standardized financing structure and reliable access to long-term funding through the tax-exempt capital markets.
- Jim Thompson, Chairman and CEO of Preston Hollow, commented, “This is our second TEPSTM transaction following our successful 2023 inaugural issuance, and we’re gratified by the strong market reception.