Opus Bank is pleased to announce it provided:
- Title: City of San Juan Capistrano
- Amount: $7,995,000
- Month: August
- Year: 2018
City of San Juan Capistrano
Opus Bank Completes Tax Allocation Notes Refunding for the Successor Agency to the San Juan Capistrano Community Redevelopment Agency
Overview of Transaction
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The City of San Juan Capistrano (“City”) was incorporated in 1961 in Orange County and is now home to 36,200 people. The City provides a full range of municipal services, including public works, planning and zoning, water and sewer services, parks and recreation opportunities, and development services.
Significance of Transaction
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Opus Bank (“Opus”) worked with the City staff and its financing team to refinance tax allocation notes of the City’s Successor Agency to the Community Redevelopment Agency.
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The refinancing addressed the upcoming bullet maturity of the notes and provided the City with flexibility in use of property originally funded with the note proceeds.
Opus Bank's Role
- Opus offered an advantageous and flexible financing structure that allowed for maximized interest savings and accommodated the State Department of Finance conditions of approval.
