Stoel Rives represented Reed College in completing an issuance of $125 million of taxable fixed rate bonds in order to refinance the college’s existing indebtedness, allow the termination of certain swap liabilities, and provide funding for general corporate purposes of the college. The college will use funds from the offering as part of a plan to revitalize and renovate its sports center following extensive damage to the gyms during the 2021 ice storm.
Reed College, a long-time client of Stoel Rives, is a Portland-based liberal arts school with a nationwide brand name.
The Stoel Rives deal team was led by partner Kevin Burnett and included attorneys Kris Russell, Tyler Runsten, and Saskia De Boer. Orrick served as bond counsel and Hawkins as the underwriter (BofA Securities). Prager & Company served as advisor to the college as well.