Wells Fargo (NYSE:WFC) assisted Lewis University as a financing partner on a $24 million bond issue which included partial funding for the expansion a new Science Center and several other capital projects on its main campus in Romeoville.
The new 50,000 square foot Science Center will provide enhanced learning facilities for students studying science as part of the university’s requirements as well as those studying in science-related fields, such as nursing, aviation, biology, chemistry and physics. Lewis University has the largest undergraduate nursing enrollment in Illinois and is the only school in Illinois to be selected by the FAA to offer an Air Traffic Control (ATC) program.
With help from Wells Fargo, Lewis University was able to refinance existing debt to take advantage of current market rates to produce savings and extend new money so the university may continue its strategic campus development, which include the Science Center and other capital projects.
The 50,000 square-foot addition of the new Science Center features twelve labs, six prep labs, eight research facilities, three conference rooms, classrooms, faculty/staff offices and gathering spaces. Lewis University has experienced nearly 50 percent increase in enrollment in 16 undergraduate Science Programs during the past five years.
The top level of the three-story structure features the Biology Department, the second floor focuses on Chemistry, and the lower level is dedicated to the Physics Department. “Our students and faculty are delighted with the many educational opportunities this state of the art facility will provide,” commented Lewis University President, Brother James Gaffney, FSC.
“Wells Fargo is proud to partner with Lewis University and provide financing solutions to support the school’s strategic growth and capital projects to better serve the students, staff and community,” said Stephen Callahan, Relationship Manager with Wells Fargo’s Government and Institutional Banking group. “We look forward to working with Lewis and other colleges in universities in Illinois as we continue to grow our education practice in Chicago.”
Lewis University is a Catholic university offering distinctive undergraduate and graduate programs to nearly 6,500 traditional and adult students. Lewis offers multiple campus locations, online degree programs, and a variety of formats that provide accessibility and convenience to a growing student population. Sponsored by the De La Salle Christian Brothers, Lewis prepares intellectually engaged, ethically grounded, globally aware, and socially responsible graduates. The ninth largest private not-for-profit university in Illinois, Lewis has been nationally recognized by The Princeton Review and U.S. News & World Report.
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
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