PRESTON HOLLOW COMMUNITY CAPITAL, INC.

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General Information
Business:

Preston Hollow Community Capital, Inc. provides specialized financing – mostly through tax-exempt municipal bonds or loans – for social and economic projects. We maintain long-standing relationships with local governments, institutions of higher education, not-for-profit entities and other borrowers that use the financing we provide to fund economic development projects in infrastructure, education, healthcare, housing and other projects that renew and improve local communities or support sustainable economic growth. (Incorporated in Maryland)

We are one of the leaders in the social impact finance market with a high quality portfolio of about $1.9 billion as of March 31, 2021, diversified across 23 U.S. states and the District of Columbia. We are internally managed and have built a vertically integrated platform that features an established track record of direct transaction origination, creative investment structuring, disciplined credit underwriting and due diligence, and a comprehensive approach to active portfolio management. These capabilities have enabled us to originate over $3.7 billion in financings cumulatively since our inception in 2014 and produce meaningful tax-advantaged returns with minimal credit losses. We have achieved 29 consecutive quarters of positive net income and have an 11.7% Compound Annual Growth Rate in book value per share since inception through March 31, 2021 (assuming full dividend reinvestment at book value).
As a result of our highly disciplined approach to asset targeting and selection, the credit performance of our portfolio has been strong. We have had only one credit impairment across over 95 investments since inception, and this was, in part, due to the impact of the COVID-19 pandemic.
We have two interconnected strategies that we focus on to achieve our business growth and profitability objectives:  our direct origination strategy and our active portfolio management strategy. Our direct origination strategy is focused on producing attractive risk-adjusted total returns from the direct sourcing and structuring of debt financings in transactions that deliver meaningful social impact across a broad range of project types that are not easily financed through traditional lending channels. Our active portfolio management strategy complements our direct origination strategy through the execution of value-accretive secondary transactions in the municipal finance market.
(Note: Preston Hollow Community Capital postponed its IPO on July 28, 2021, on the day of its expected pricing.)
 
Industry: Specialized financing
Employees: 35
Founded: 2014
Contact Information
Address 1717 Main Street, Suite 3900 Dallas, Texas 75201
Phone Number (214) 389-0800
Web Address http://www.phccap.com/
View Prospectus: PRESTON HOLLOW COMMUNITY CAPITAL, INC.
Financial Information
Market Cap $2461.07mil
Revenues $150.19 mil (last 12 months)
Net Income $112.5 mil (last 12 months)
IPO Profile
Symbol PHCC
Exchange NYSE
Shares (millions): 10.5
Price range $18.00 - $20.00
Est. $ Volume $199.5 mil
Manager / Joint Managers J.P. Morgan/ Barclays/ UBS Investment Bank/ Piper Sandler
CO-Managers Deutsche Bank Securities/ Loop Capital Markets
Expected To Trade: 7/29/2021
Status: Postponed
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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