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Working With City of Troy, Rensselaer Successfully Refunds Bonds

December 13, 2019

Working With City of Troy, Rensselaer Successfully Refunds Bonds

Institute appreciates ongoing support of City of Troy Capital Resource Corporation

Rensselaer Polytechnic Institute, in conjunction with the City of Troy Capital Resource Corporation (CRC) as conduit issuer, successfully priced $261,165,000 2020A Series tax-exempt bonds on November 20, 2019.  Proceeds will be utilized to refund the Institute’s $311,630,000 2010A Series tax-exempt bonds.  The transaction is expected to close on June 3, 2020.

The Institute appreciates the ongoing support provided by the City of Troy Capital Resource Corporation and looks forward to continuing to work together as opportunities present themselves.

“We are proud to partner with Rensselaer Polytechnic Institute by acting as the issuer of bonds for their refinancing,” said Steven Strichman, the executive director of the CRC. “The CRC’S mission is to promote community and economic development projects throughout the City, with an emphasis on supporting not-for-profit and educational institutions.  Providing RPI with access to low interest tax-exempt financing allows the Institute to achieve significant savings at no cost to taxpayers, while the CRC is able to continue to reinvest resources to support development projects in Troy’s neighborhoods.”


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About Rensselaer Polytechnic Institute

Founded in 1824, Rensselaer Polytechnic Institute is America’s first technological research university. Rensselaer encompasses five schools, 32 research centers, more than 145 academic programs, and a dynamic community made up of more than 7,600 students and more than 100,000 living alumni. Rensselaer faculty and alumni include more than 145 National Academy members, six members of the National Inventors Hall of Fame, six National Medal of Technology winners, five National Medal of Science winners, and a Nobel Prize winner in Physics. With nearly 200 years of experience advancing scientific and technological knowledge, Rensselaer remains focused on addressing global challenges with a spirit of ingenuity and collaboration.