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Groton School To Renovate, Refinance With $75M MassDevelopment Loan

Nov 26, 2013 | Reprints | Unlock Link | Print

MassDevelopment has issued a $75 million tax-exempt bond on behalf of Groton School to renovate its schoolhouse building and to refund prior bond issuances.

The bond will be used to fund $10 million of the $48 million Schoolhouse renovation, provide $15 million in temporary bridge financing for the renovation and support better terms for the financing of existing bond issuances.

Upgrades to the schoolhouse, which was originally built in 1899, will include an addition dedicated to STEM disciplines and a new school library.

Groton School is a private, five-year coeducational college-preparatory school.

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