Winter Harbor LLC

Elmira College

Higher Education Institution Seeks Debt Restructuring

 

Elmira College is a private, co-educational and liberal arts college that emphasizes studies in art, humanities, social and natural sciences, communications and education, with $30 million in annual revenue.

Our Role

Winter Harbor was engaged as Financial Advisor to Elmira College to assist with the restructuring of their current debt levels. In addition, our professionals:

  • Analyzed and validated the College’s business plan and financial forecast.

  • Analyzed whether the projections, if achieved, would bring the College back into loan compliance.

  • Assisted in the determination of an appropriate capital structure for the College.

  • Led negotiations with the College’s lender regarding modifications of existing obligations.

  • Assisted in the College’s refinancing efforts and negotiations with key stakeholders.

Engagement Outcome

Initially, Winter Harbor performed a strategic assessment valuating Elmira College’s business plan. We completed a financial forecast and analyzed whether projections, if achieved, would bring the College back to loan compliance. Furthermore, we led negotiations with the College’s senior lender, resulting in the refinancing of their existing loan obligations.