HOLMES COUNTY
Toledo-Lucas County Port Authority
2 Court Street, Suite 21 • Millersburg, Ohio 44654 • (330) 674-8625 • Fax: (330) 674-1582• e-mail: hcpc@valkyrie.net
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Fixed Interest Rate Bond Program Benefits |
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| Interest and Principal payments are fixed for term of financing. | ||
| Principal is fully amortized over term of financing. | ||
| Risk of balloon financing and cost of refinancing avoided. | ||
| All loan terms and covenants are fixed for term of financing. | ||
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| Preserve existing or future bank borrowing capacity for other | ||
| purposes such as working capital, inventory, and acquisitions. | ||
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| Port Authority financing is independent of bank relationship. | ||
| Letter of credit risks & requirements are avoided or reduced. | ||
| Ability to change banks without refinancing loan is maintained. | ||
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| Provides both construction and permanent financing. | ||
| Up to 90% financing including closing and issuance costs. | ||
Financing covenants usually are the same as bank. |
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Standardized documents reduce overall costs. |
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| Expedited bond financing process, close in 45 to 90 days. | ||
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| The Bond Program permits companies to access the national capital | ||
| market. | ||
| Since the Program has a BBB+ Investment Grade Rating, the interest | ||
| rates are below rates at which non-rated companies can borrow. | ||
