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June 15, 2023


St. Catherine University – Borrower / Obligor

Minnesota Higher Education Facilities Authority – Issuer

St Catherine University (the “University”) has submitted a financing request to the Minnesota Higher Education Facilities Authority (the “Authority”) for the issuance of up to $22,500,000 of Revenue Bonds (the “Bonds”) on behalf of the University. If the financing request is approved, pricing of the Bonds is expected to occur in late June of 2023 and closing in July 2023.

The proceeds of the Bonds would fund capital projects on the St. Paul campus of the University, pay capitalized interest during 6 months of construction of the projects, and pay costs of issuance of the Bonds. The financing is contingent on, among other things, the final consideration and approval of the financing request by the Authority, and is further dependent on market conditions, and other external factors that cannot be assured.

The Authority and the University anticipate that RBC Capital Markets, LLC, would serve as sole managing underwriter in connection with the issuance of any Bonds. There is no assurance that any of the Bonds will be issued, and if any such Bonds are issued, the timing thereof. The Authority and the University expect to distribute a Preliminary Official Statement prior to offering any Bonds. Potential investors should read the entire Preliminary Official Statement, if and when distributed, as a basis for making informed investment judgments.

This Notice does not constitute an offer to sell Bonds or the solicitation of an offer to buy, nor shall there be any sale of the Bonds by any person in any state or other jurisdiction to any person to whom it is unlawful to make such offer, solicitation or sale in such state or jurisdiction. No dealer, broker, salesperson or any other person has been authorized to give any information or to make any representation other than those contained in the Preliminary Official Statement, if and when distributed, in connection with the contemplated offering of the Bonds, and, if given or made, such information or representation must not be relied upon. The information contained in this Notice is being provided by the Authority and the University on a voluntary basis and, accordingly, should not be construed as an obligation of the Authority or the University to provide such information in the future.

Date of this filing: 14 June 2023

Minnesota Higher Education Facilities Authority