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Posted: October 20, 2014
GATES finances $10.2 million for Sullivan County Community College/Dormitory Corp.
GATES Capital Corp. closed $10.2 million (aggregate) financing for Sullivan County Community College and the Sullivan County Community College Dormitory Corp. The financing incorporated (i) a taxable term loan and (ii) tax-exempt and taxable bonds issued through the Sullivan County Funding Corp., generating significant cash flow savings.
The $2.2 million taxable term loan was for Sullivan County Community College and the $8 million tax-exempt and taxable revenue bonds were for Sullivan County Community College Dormitory Corp.
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