Case Study

University of Arkansas

PFM was hired by the University of Arkansas, Fayetteville (the "University") in early 2006 to assist in the issuance of approximately $80 million for several projects including student housing, an energy management system and its athletic facilities. Separate revenue sources were used to support each project. This was the first time that the University had selected a financial advisor to assist with its bond issuance process. The transaction was completed in less than 6 weeks, including the selection of an underwriter, the issuance of a credit rating, and the selection of a bond insurer. The University estimated that it saved over $450,000 over its previous transactions. The transaction was completed in June 2006.

In September of 2007, PFM served as financial advisor for the Series 2007A Various Facility Revenue Bonds. Bond proceeds were used for capital improvements to the Fayetteville campus of the University of Arkansas. Currently, PFM is working with the University of Arkansas System to calculate credit ratios and to determine a suitable debt capacity.