Transaction summary
Piper Sandler acted as sole manager for the Public Finance Authority’s $13,050,000 issuance of Charter School Revenue Bonds for the Yi Hwang Academy of Language Excellence. The transaction consisted of $12,545,000 in Series 2026A tax-exempt bonds and $505,000 in Series 2026B taxable bonds.

Proceeds of the Series 2026 Bonds were used to:

• Acquire the school’s currently leased facility in Duluth, Georgia
• Reimburse costs of tenant improvements
• Fund a debt service reserve fund
• Pay costs of issuance

Piper Sandler was engaged in late February 2026 after a previous underwriter was unable to complete the transaction. Facing a fourteen-week deadline to acquire the leased facility, the team was quickly mobilized to navigate the conduit issuer approval process, prepare and review offering documents, and secure the financing. Through the dedicated efforts of the entire working group, the transaction successfully closed in just twelve weeks.

ABOUT Yi hwang academy of language excellence

Yi Hwang Academy of Language Excellence (YHALE), located in Duluth, Georgia, is a dual language immersion school dedicated to cultivating bilingual, biliterate, and globally minded students. Since its inception, the Academy has utilized a dual language immersion approach, enabling students to achieve high levels of proficiency in two languages while meeting rigorous academic standards across all subject areas. Since opening in 2020, YHALE has demonstrated significant growth, scaling from approximately 111 students in grades K–4 to 537 students in grades K–7 by the 2025–2026 school year. YHALE continues to expand its reach, with plans to serve grades K–8 in the 2026–2027 school year.