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Baldwin Wallace University announced the successful issuance and closing of $14,430,000 in Ohio Higher Educational Facility Revenue Bonds through the Ohio Higher Educational Facility Commission on June 23, 2026.
The bond issuance represents another milestone in Baldwin Wallace's significant progress in strengthening its financial sustainability while investing in the campus infrastructure necessary to support future generations of students.
The University, which received a Stable Outlook from Standard & Poor's, continues to build momentum through disciplined financial management and strategic investments aligned with its Transformation Action Plan.
The financing will fund improvements to university facilities, including HVAC system upgrades, conversion of geothermal facilities to boiler systems and enhancements to campus electrical infrastructure. The bonds will also be used to refinance some outstanding debt.
"This is another important milestone for the Baldwin Wallace community as we continue implementing our Transformation Action Plan and reinforcing BW’s regional leadership and distinction," said Baldwin Wallace President Lee Fisher.
"We are building a more focused, more distinctive, and more resilient university. Enrollment and fundraising are up, and costs are down. Every decision we make is centered on ensuring student success, achieving long-term financial sustainability, and strengthening BW's role as a leading private university in Ohio. These investments will help ensure we continue preparing our students to graduate leader-ready, team-ready, career-ready, and future-ready."
John Case, BW interim chief financial officer, said, "This was a tremendously successful transaction in strengthening Baldwin Wallace's long-term financial position. BW is now on its strongest financial footing in the last three years. This bond issuance allows us to address critical campus infrastructure and mitigate future financial risks through a stable, long-term debt structure. We are especially appreciative of the guidance and expertise provided by our business partner, KeyBanc Capital Markets."
KeyBanc Capital Markets served as the lead underwriter on the bond issuance and provided strategic guidance throughout the transaction.
