Behind the Deal: Victory Charter School

Victory Charter School was established in 2004 as a public charter school employing the Harbor School Method serving grades Kindergarten through 7th grade. Today, current enrollment is roughly 400 students in grades K-12. The philosophy of the Harbor School Method™ is grounded in the belief that when content is highly challenging, accelerated learning takes place. Victory has a longstanding history of being an institution that offers a challenging academic program and has high personal character expectations. Their mission states that Victory Charter School believes that all children are capable of more when their potential is unlocked through high expectations, a rigorous and fast-paced curriculum, and dynamic character education.  Victory is now one of the highest performing schools in Idaho.

To continue supporting their mission, Victory Charter School needed to finance improvements to their existing facilities, including the construction of an auditorium facility of approximately 10,300+ square feet, about 500 seats. Additionally, the project was used to fund a debt service reserve fund and pay for the cost of issuing the bonds. 

Baird’s National Charter School Finance team served as sole managing underwriter on the $2,280,000 Aa2 Idaho Public Charter School Facilities Program Credit Enhanced financing for Victory Charter School. The school's academics, waitlist and overall story gained the attention of investors despite the small issue size. Baird’s salesforce was able to build another strong book met by another aggressive reprice to finalize the financing with participation from 10 different accounts.