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    Northeastern University 501(c)(3) Revenue Bonds

    Edwards Wildman has served as bond counsel and borrower’s counsel to Northeastern University in connection with the issuance of qualified 501(c)(3) bonds by the Massachusetts Development Finance Agency (and its predecessor) for the benefit of Northeastern University and also in connection with the direct issuance of corporation bonds by the University. Over the years, these transactions have included a number of different financing structures including traditional fixed rate debt, variable rate demand obligations backed by letters of credit and long-term tender bonds. Proceeds from these transactions have been used to finance “new money” projects, to current and/or advance refund prior obligations, or a combination of both. In 2012, members of the Edwards Wildman public finance department served as bond counsel and counsel to the University in connection with the University’s most recent transaction, which involved the issuance of $54,385,000 Massachusetts Development Finance Agency Revenue Bonds, Northeastern University Issue, Series 2012, the proceeds of which were used to redeem an outstanding issue of tax-exempt debt. In addition to the traditional bond counsel role, as counsel to the University, Edwards Wildman also provides ongoing advice to the University on all aspects of its tax-exempt debt issuances, including disclosure practices, private use analysis relating to bond financed assets and post issuance compliance.

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