Build NYC to Sell $40M of Bonds for Nightingale-Bamford School Athletic Facility

Dow Jones

05 Jun

By Paulo Trevisani

Build NYC Resource Corporation plans to sell $40 million of municipal bonds to finance a new athletic facility for The Nightingale-Bamford School.

Proceeds will be used to acquire a 22,324-square-foot parcel of land on Manhattan's Upper East Side and build, equip and furnish a 64,000-square-foot athletic center for the K-12 institution, according to a preliminary statement posted Tuesday on MuniOS. Funds will also be used to cover issuance costs.

Pricing is scheduled for the week of June 9, and the securities are expected to be delivered the week of June 23.

The Series 2025 revenue bonds are tax exempt and will be offered in a single tranche.

The bonds are backed by loan payments from the school. No property-tax revenue or pledged revenue back the bonds, and there is no lien on school assets. The Nightingale-Bamford School reported $46 million in total revenue and support for fiscal 2024.

Nightingale is a girls-only, kindergarten-through-12 school that aims at "ensuring that graduates are prepared to make a positive impact in the world," according to roadshow material. Enrollment for the 2024-2025 year was 716, up 5.6% from the prior year.

Moody's has rated the bonds A3 and assigned them a negative outlook.

J.P. Morgan is the underwriter.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

June 04, 2025 19:20 ET (23:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Morgan is the underwriter. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Paulo Trevisani at paulo.trevisani@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 04, 2025 19:20 ET (23:20 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4233","symbol_name":"房地产运营公司","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2541092018","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2541092018","pubTimestamp":1749079200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Build NYC Resource Corporation plans to sell $40 million of municipal bonds to finance a new athletic facility for The Nightingale-Bamford School.Proceeds will be used to acquire a 22,324-square-foot parcel of land on Manhattan's Upper East Side and build, equip and furnish a 64,000-square-foot athletic center for the K-12 institution, according to a preliminary statement posted Tuesday on MuniOS. 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Funds will also be used to cover issuance costs. \n\n\n  Pricing is scheduled for the week of June 9, and the securities are expected to be delivered the week of June 23. \n\n\n  The Series 2025 revenue bonds are tax exempt and will be offered in a single tranche. \n\n\n  The bonds are backed by loan payments from the school. No property-tax revenue or pledged revenue back the bonds, and there is no lien on school assets. The Nightingale-Bamford School reported $46 million in total revenue and support for fiscal 2024. \n\n\n  Nightingale is a girls-only, kindergarten-through-12 school that aims at \"ensuring that graduates are prepared to make a positive impact in the world,\" according to roadshow material. Enrollment for the 2024-2025 year was 716, up 5.6% from the prior year. \n\n\n  Moody's has rated the bonds A3 and assigned them a negative outlook. \n\n\n  J.P. Morgan is the underwriter. \n\n\n \n\n\n  Write to Paulo Trevisani at paulo.trevisani@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  June 04, 2025 19:20 ET (23:20 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}