Ascent Classical Academy Charter Schools, Inc. Successfully Sells $77.5 Million in Bonds

GOLDEN, CO / ACCESSWIRE / May 29, 2024 / Ascent Classical Academy Charter Schools, Inc. (ACACS), a notable Colorado charter school network, has announced the successful sale of $77,515,000 in bonds on April 25, 2024. Facilitated through Ascent Colorado Building Corporation, the sale marks a significant step in ACACS's efforts to improve education across Colorado.

The bonds received a BB rating from Standard & Poor's, indicating confidence in ACACS's financial stability. Fourteen investors participated in the sale, which was issued through the Colorado Educational and Cultural Facilities Authority. The bonds carry a fixed interest rate with a true interest cost of 5.79% and a 35-year final maturity.

The bond proceeds will be used for various strategic initiatives, including the acquisition and improvement of the Ascent Douglas County Campus, the acquisition of the Ascent Northern Colorado Campus, refinancing the Ascent Grand Junction Campus, and expanding the Ascent Northern Denver Campus.

Rob Williams, ACACS Board Chair, expressed his enthusiasm, stating that the investor support reflects confidence in ACACS's mission. The funds will enable the charter network to continue offering a classical, content-rich education that promotes moral character and civic virtue.

ACACS operates four K-12 tuition-free classical charter schools affiliated with Hillsdale College, providing a rigorous curriculum grounded in the liberal arts and sciences.