Capital Financing
A proven expert in managing complex financial strategies for higher education capital projects, Edward’s skillset encompasses debt issuance, investor relations, holistic analysis of revenues and expenses, and innovative financial restructuring. His strategic negotiations have resulted in improved debt service coverage ratios and significant ratings upgrades. His financial acumen has been crucial in developing over five million square feet of campus housing, dining, athletic, and parking facilities.
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Financial Pro Forma
Developed this tool to review all sources and uses of funds, to ensure long term net positive cashflow of all projects financed with revenue bonds; evaluated academic year student room rent and summer revenues and all expenses, such as salaries, utilities, debt service, repairs, and deposits to reserves.
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West Hall
Framingham State University
Oversaw financing, design, and construction of this 316-bed undergraduate residence hall. This building, certified as LEED Gold, was financed through Green Bonds, issued to meet market demand for investment in energy-efficient and sustainable projects.
ARC Architects; Consigli Construction, Robert Benson Photographer
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Lifetime Debt Service Management
Issued refunding revenue bonds to alleviate impact of Covid-19 pandemic, which closed on-campus housing for three semesters; implemented $400 million bond issue to defer $100 million in debt service during AY 2021 and 2022 to avoid default without raising future room rent and achieving a 7.96% present-value savings
Negotiated improved debt service coverage ratios, resulting in ratings upgrades from Single-A to Double-A by both Moody's and S&P
Managed issuance of $1.38 billion in new money and $1.05 billion in refunding project revenue bonds across 30 transactions
Issued one of the first Green Bonds in the nation for a public building project
Oversaw financing for construction or renovation of 17,000 beds in 100 buildings on nine campuses
Negotiated revisions in trust agreement with trustee, investors, and ratings agencies to eliminate debt service reserve fund requirement, freeing up $85 million to fund debt service or projects
Clarified statutory language to prevent default through intercept of State appropriations