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Public Finance

Education

Higher Education

Morgan Keegan underwrites bond issues for both public and private institutions of higher learning throughout the United States. Since 2000, Morgan Keegan has managed more than 230 issues for colleges and universities with an aggregate par value of approximately $8.9 billion.

A thorough analysis of various aspects of every higher education credit is essential in order to obtain the highest possible rating on the bonds and the lowest cost for third party credit enhancements, including bond insurance. Higher education credits are analyzed differently from virtually all other credits because of their unique accounting rules and other attributes, specifically with respect to demand factors and demographic considerations. Morgan Keegan’s higher education specialists are well-versed in the importance of these factors as well as key financial ratios that are crucial in assessing each credit’s strength.

Some of Morgan Keegan’s higher education clients include:

  • Alabama A&M University
  • University of California – San Marcos
  • University of Northern Colorado
  • Hampden-Sydney College (Virginia)
  • Memphis College of Art (Tennessee)
  • Millsaps College (Mississippi)
  • University of Mississippi
  • University of North Carolina
  • University of Virginia

Secondary School Financing

Morgan Keegan is active in financing for both public and private secondary schools. With respect to public school financings, our capacity is usually that of financial advisor to a municipality, county, or school district. We have also served as negotiated underwriter or placement agent on several issues for private and charter schools.

Student Loan Bonds

Cumberland Securities, a division of Morgan Keegan located in Knoxville, Tennessee, developed edsouth® in 1988 to provide student loans and other educational funding options to students throughout the southern United States. Since that time, Cumberland has continued to serve as financial advisor to Educational Funding of the South, Inc., edsouth’s financing arm.