MassDevelopment has issued a $7.8 million bond on behalf of Dedham Country Day School. The school says it intends to use the proceeds to renovate and expand, building a new classroom wing for kindergarten and primary classrooms.

The school, which serves about 250 students in kindergarten through eighth grade, said it expects to open the new wing this fall.

"This low-cost financing helps many independent schools with their capital projects, and we’re pleased to back Dedham Country Day’s expansion," said MassDevelopment President and CEO Marty Jones.

Established in 1903 as a small, co-educational school with a focus on community, Dedham Country Day School moved to its current location in 1948. DCD Head of School Nick Thacher said in a statement, "This loan will enable the current generation of DCD families and friends to achieve the goals of ‘Thrive: The Campaign for DCD,’ transforming the school’s current facilities to improve an already outstanding program."

Bond proceeds will also refinance a previous bond. Brookline Bank purchased the bond.