Preston Hollow Community Capital Completes Inaugural $230 Million Senior Unsecured Notes Offering

DALLAS--(BUSINESS WIRE)--Preston Hollow Community Capital (“PHCC”) recently closed its inaugural senior notes offering of $230 million with an investment grade rating of ‘BBB’ (Stable) from Kroll Bond Rating Agency. Despite a volatile market backdrop, PHCC saw robust demand for the offering, drawing orders from ten investors with seven ultimately participating in the transaction. The offering consisted of $52.5 million of 5-year notes, $136.5 million of 7-year notes, and $41 million of 10-year notes. PHCC will use the proceeds to execute its core mission of financing transformational projects for communities and fund a partial recapitalization of existing PHCC equity investors.

“We were pleased with the strong investor reception despite the turbulent market environment,” remarked Chairman and CEO Jim Thompson. “PHCC will continue to originate and invest in projects of significant social and economic importance while delivering superior risk-adjusted returns to our investors.”

Barclays Capital Inc. and SPC Capital Markets LLC acted as Placement Agents for the transaction. Clifford Chance LLP acted as counsel to PHCC, while Chapman & Cutler LLP acted as Purchaser’s Counsel.

COMPANY OVERVIEW

Preston Hollow Community Capital is a market leader in providing specialized impact finance solutions for projects of significant social and economic importance to local communities in the United States. PHCC has directly originated $4 billion in impact finance transactions since its inception across a broad range of project types, including real estate, K-12 and higher education, healthcare, infrastructure, hospitality, general government, and economic development.

Since its inception, Preston Hollow has raised $1.3 billion in committed, permanent equity capital from premier sponsors like Stone Point Capital and HarbourVest Partners. The company has received a ‘BBB’ (Stable) rating from Kroll Bond Rating Agency.