Magnolia Public Schools RFP for Refinancing November 2024
Magnolia Maintains $31.7M Facility Loans with CLI Capital
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Description
Magnolia Educational & Research Foundation maintains three notes payable with CLI Capital totaling $31.7 million, financing school facilities at varying maturities and rates. Magnolia is seeking to refinance two high-interest loans with a new lender.
Contract Details
Contract Amount
$31,738,960 (total of three notes payable, 10% and 9.5% interest rates)
Vendor
CLI CAPITAL
Agency
Magnolia Science Academy 5 District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
November 20, 2024
Contract Term
Loans maturing July 1, 2044; December 1, 2026; February 1, 2028
Renewal Date
2044-07-01
Renewal Info
Matures in phases: Santa Ana (July 2044), Winnetka/Reseda (Dec 2026), Vanowen St. (Feb 2028). Subject to early refinancing by EFF as planned.
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