In February 2024, BASIS Texas Charter Schools, Inc. (BTX) closed on a $30 million revolving Line of Credit. BTX is a growing CMO which often needs to be in a position to take down land and/or begin the construction process in between planned capital market transactions. This line of credit, issued by Texas Capital Bank, will allow BTX to begin the ever-longer construction timelines and still be able to open schools on time. It was issued on parity with other obligations under its Texas Master Trust Indenture, which obligations now total about $170 million.
BTX is a CMO operating 14 schools in three Texas metropolitan areas, enrolling over 6,000 students. It offers a STEM-infused college preparatory curriculum endeavoring to achieve world-class academic excellence.
Buck Financial Advisors served as Financial Advisor and Independent Management Consultant. Shulman, Lopez, Hoffer and Adelstein LLP served as borrower’s counsel, Jackson Walker LLP served as bank counsel, BOK Financial NA as Trustee, and Clearwater Ventures as Owner’s Representative. Congratulations to Andy, Andrea, and all the folks at BTX.