SAN ANTONIO--(BUSINESS WIRE)--Jubilee Academic Center, a nonprofit, open enrollment, tuition-free Pre-K - 12th public charter school organization, has completed a $73,315,000 million, 30-year, tax-exempt education revenue bond offering and a $335,000 taxable education revenue bond. D.A. Davidson & Co. served as the sole underwriter on both offerings.
Jubilee Academic Center will use the proceeds of the bonds to take complete ownership of the built-to-suit leases at its Athlos Leadership Academies in Brownsville, San Antonio and Austin. In addition, there are plans to refinance its San Antonio district office and purchase a building from Austin Christian Faith Center in North Austin, which currently houses Jubilee’s Wells Branch Leadership Academy.
“This is an exciting moment for Jubilee Academic Center as we celebrate what is the largest bond offering in the district’s history,” said Rene Gallegos, chief financial officer for Jubilee Academic Center. “This will enable us to increase our services and educational opportunities to students throughout Texas and follow in our mission of providing a nurturing community, focused on leadership and educational excellence.”
The New Hope Cultural Education Facilities Finance Corporation acted as the conduit issuer and is a nonprofit corporation governed by the Higher Education Authority Act and the Texas Non Profit Corporation Act.
“With this acquisition, we are able to help the Jubilee Academic Center Charter District save dollars so the funding can be used for the most important mission of all: investing in kids through strong education,” said Eric Duran, managing director with D.A. Davidson. “We have been very pleased to work with the Jubilee Executive Team and the investors who believe in its mission, and we’re excited with the bond sale’s success as a way to help ensure that Jubilee can continue to deliver their high-quality programs to more students.”
To learn more about Jubilee Academic Center, contact Jessica Gonzales, PR director, at (210) 245-0362 or via email at Jessica.gonzales@jubileeacademic.org.
About Jubilee Academic Center
Jubilee Academic Center currently has 12 campuses – four across the south side of San Antonio, four in the Valley (Brownsville and Harlingen), two in Kingsville and two in Austin. Jubilee addresses the educational needs of students through the development of a strong academic program consisting of basic skills in reading, writing and math with the opportunity for challenge beyond the basics. The target for each student graduating from a Jubilee charter school campus is to have the opportunity to leave with college credit and acceptance to an institution of higher education. For more information, visit Jubilee Academic Center or call (210) 333-6227.
