Transaction Overview

Janney Montgomery Scott served as senior managing underwriter for Rhode Island Health and Educational Building Corporation’s (“RIHEBC”) $85,000,000 Revenue Bonds, Series 2022 F (Town of Johnston Issue). This issue carried a rating of AA (Stable) from S&P. This new money public school revenue bond will finance the construction, repair, furnishing and equipping of schools and school facilities throughout the Town of Johnston. The closing of the transaction occurred on September 29, 2022.

About RIHEBC and the Town of Johnston

Rhode Island Health and Educational Building Corporation (“RIHEBC”) is a quasi-public agency that assists the state’s healthcare and private and public educational institutions in gaining access to low-cost financing for facilities construction and renovation.

The Town of Johnston is located in the northwestern part of the State with a total area of 24.4 square miles. Ranked twelfth in population among the thirty-nine cities and towns in Rhode Island, the Town has a population of 29,568 (2020 Census). The Town was established in 1636 and incorporated as a town in 1759.