RIHEBC Closes On $20 Million Bond to Finance Warwick Public Schools Facility Improvements

PROVIDENCE, RI – The Rhode Island Health and Educational Building Corporation (RIHEBC) has closed on a $20,000,000 bond issue for the renovation, rehabilitation, improvement, furnishing and equipping of Warwick Public Schools facilities.

“RIHEBC is proud to be a partner to Rhode Island’s school districts as they invest in the construction of new school buildings and renovating existing buildings to create 21st century learning environments,” said Kim Mooers, Executive Director. “We are pleased to close on this $20 million bond so Warwick Public Schools can make needed investments in their school facilities. Bond proceeds will finance various on-going school improvement projects. The largest projects are at Greenwood, Norwood, Scott, Sherman, Warwick Neck, and Winman schools.”

The 20-year bonds are rated AA by S&P and carry an all-in interest rate of 4.01%.

“The city of Warwick is extremely grateful to RIHEBC for their aid and assistance in our quest to improve the quality of our educational facilities,” said Mayor Frank J. Picozzi.

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About RIHEBC
Since 1966, the R.I. Health and Educational Building Corporation has provided financing for non-profit health and educational institutions in the state as well as municipalities for school projects. It has issued over $10 billion in tax exempt bonds and is the largest financing agency of the state. rihebc.com – Twitter: @RIHEBC1