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Brokerage
Posted: November 25, 2013
GATES Capital Corp. closed a $27.78 million issue for SCO
GATES Capital Corp. closed a $27.78 million issue for the benefit of SCO Family of Services, Inc. (SCO). The highly complex transaction included the current and advance refunding of six outstanding bond issues and numerous conventional lending facilities. These refunding bonds were simultaneously issued through three local issuers - Build NYC Resource Corporation, Nassau County Local Economic Assistance Corporation and the Suffolk County Economic Development Corporation while incorporating numerous project types and revenue streams (PPA and Non-PPA). The refunding generated significant cash flow savings to SCO while removing restrictive covenants and collateral requirements.
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