The slides speak for themselves but are probably the short version of what the July 10 event at the Hahvahd Club in NYC covered. LISC was involved in both. The smug comes through exceptionally well with Billy “Its all for the benjamins I mean kids” Wildman.

Note that one of the “Exemplar Transactions” is for New Plan Learning, the land-owning wing of Gulenists’ chain Concept Schools. It would have been a much bigger deal if it hadn’t have been for those meddling kids. Fitch downgraded these bonds in March 2013 but it was a mixed assessment with bleets of increasing enrollment supporting increasing revenue (note the absence of the “best practices” supporting academic performance that LISC feels necessary).

It will be interesting to see how the interest rate shock impacts the deals in the pipeline. This year’s first six months saw 26 issuances close compared to 28 in same period in 2012 and 22 in same period in 2011.