Transforming Visions
Into Reality

We provide commitments and rate locks at the outset of a project, providing certainty of financing availability and cost. In our commitments, we also set forth a viable transaction structure as an outline for our counterparties and their financial and legal advisors to frame the structuring process.

We have a team of originators who were formerly municipal finance bankers. Together with our in-house lawyers and underwriting experts, they work hand in hand with our borrowers and their advisors to help implement the proposed structure. That means we are part of the transaction team working toward the common objective.<

• Interim financing – Our borrowers often need to start projects before completing requirements for a tax-exempt debt issuance. In this case, we can provide a quick closing on a taxable financing that is replaced later with a tax-exempt debt issuance.
• Drawdown funding – Rather than closing on all the bonds at closing, PHCC can commit to fund a full bond deal over time as money is needed. This works best on new construction projects.
• Reserve fund flexibility – We can structure reserve fund requirements to meet the specific credit profile of the borrower and the project, potentially saving the borrower significant borrowing costs.
• The ability to make and hold long-term investments – Since we are a long-term investor with permanent capital, we can offer extended maturities.

In virtually all of our directly originated transactions we are the sole or majority and controlling bondholder. This means our borrowers have a direct, face-to-face lending relationship with us, unlike a typical widely-distributed municipal bond transaction. We have the flexibility, when appropriate, to lend additional funds, and adapt to our borrowers’ changing needs by approving updates to the terms of the financing when mutually beneficial.

• Collateral-backed financings
  • Real estate
  • Contracts
  • Revenues
• Investment with the outlook for credit appreciation
• Construction risk OK
• Unrated

• Drawdown bonds over construction period
• Stepped coupons
• Taxable bridge to tax-exempt bonds
• Master facilities financings
• PHCC participation across capital stack including equity
• Bridge to EB-5 or tax credits

• Hold sizes from $10-$100 million+ (target range is $20-$50 million)
• 10-30 year debt periods
• Fixed-rate or variable-rate
• Tax-exempt or taxable debt
• Private placements or limited public offerings
• CUSIP bond preferred / loan acceptable

• Focus on projects with measurable social benefit
  • Affordable basic infrastructure
  • Access to essential services
  • Affordable housing
  • Employment generation
  • Socioeconomic advancement and empowerment
• Purpose-built direct origination platform
• Investing across asset classes, including
  • Economic development
  • Infrastructure
  • Workforce housing
  • Healthcare
  • Education