Needham, MA TD Bank has provided $56 million to Franklin W. Olin College of Engineering in a direct bond purchase of three bonds that originally financed the construction of the college’s campus.
Olin is a small, private, undergraduate college, created to change engineering education. The institution, which was founded in 1997, is renowned in the engineering community for its innovative, project-based curriculum and its large endowment that allows the college to provide a 50 percent tuition discount to every student.
The bank purchased two tax-exempt and one taxable bond on behalf of Olin. The loan proceeds refinanced existing bonds that funded campus construction. The campus is located on 70 acres and consists of five academic, administrative and residential buildings and a green space known as the “Oval.”
“TD Bank continues to invest in organizations that offer quality education and enhance communities,” said Jeff Bayard, commercial relationship manager for TD Bank’s not-for-profit, education and government group in Boston. “Olin College is growing, and we are proud to partner with them.”
TD Bank strives to create relationships with customers through an understanding not only of their industry, but their business. The bank’s commercial lending group specializes in working with schools, colleges, universities and non-profit organizations from Maine to Florida.
“Olin College chose to partner with TD Bank because of its excellent reputation, financial acumen and unparalleled customer service. We are very pleased with the results and hope to continue to partner in the future,” said Patricia Gallagher, vice president for financial affairs and chief financial officer at Olin College.
TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J.