Eventus assists with significant refinancing for The Hill at Whitemarsh
April 8, 2015 | Client News
The Hill at Whitemarsh had existing bond issues and related subordinated debt that substantially restricted its ability to access additional capital along with a challenged financial position diminished from major capital improvements after project completion. Eventus provided significant financial analysis and consulting with the bond underwriter in the planning for the refinancing of its debt and recapitalizing its balance sheet. Eventus then prepared financial forecasts demonstrating the feasibility of the refinancing and recapitalization that were incorporated in the bond offering statement. A successful closing was completed in March 2015 that not only refinanced the exiting bond issues, but eliminated the restrictive subordinated debt and reduced annual debt service by more than $1 million.