September 9, 2011
Brescia University College completes $31.1 million financing for residence construction project
London, ON – Brescia University College is pleased to announce the successful financial close of a $31.1 million financing arrangement with Scotiabank to fund the construction of a new 300-bed student residence complex. The financing was arranged with the assistance of sole lead arranger and financial advisor Ernst & Young Orenda Corporate Finance Inc. and will enable Brescia to add 110 students to its residence system.
Colleen Hanycz, Principal of Brescia University College, sees this as an important step in achieving Brescia’s overarching strategic goal – to increase student numbers by 20% over the next five years, growing from 1,000 females to 1,200. She says, “We are very pleased to be partnering with Scotiabank in the financing of our new residence and dining pavilion. Scotiabank has provided Brescia with a very positive arrangement that meets our needs over the construction period and over the long-term. We look forward to a long and mutually beneficial relationship with Scotiabank. We are also grateful for the expertise and advice provided by Ernst & Young Orenda as they guided us through this process to a successful financial close. Finalizing this financing moves us one significant step closer to the realization of our exciting new residence complex.”
Brescia plans to break ground for this new residence complex in the spring of 2012 and the planned opening is September 2013.
Brescia University College, Canada’s premier women’s university college, is affiliated with The University of Western Ontario. The 1,100 women registered as either full or part-time students at Brescia study a wide variety of subjects in Arts, Social Sciences, and Foods & Nutrition in an empowering, compassionate, student-centred, and invigorating environment. Degrees are granted by Western. The Catholic College welcomes students from all backgrounds and values diversity. For more current and archived news, a listing of faculty experts, and photos please visit our Online Media Room at http://www.brescia.uwo.ca/media/index.html