Fishman Haygood Client Provident Resources Group Secures $407.8 Million in Tax-Exempt Financing for University of Kentucky Central Utility Plant
June 30, 2026
Fishman Haygood Partner Louis Quinn and Associates Marina Speligene and Christen Triche represented Provident Resources Group subsidiary PRG Wildcats LLC as borrower in the issuance of $407,800,000 in tax-exempt Senior Revenue Bonds (Series 2026A) through the Kentucky Bond Development Corporation, financing a new Central Utility Plant at the University of Kentucky’s primary Lexington campus.
The project involves the design and construction of a new combined heating and cooling facility in a two-story 95,979-square-foot building, along with modifications to existing utility infrastructure across campus. As envisioned, the investment will allow the University to take a holistic approach to utility upgrades that improves efficiency and sustainability while supporting the significant campus growth planned over the next decade, including major expansion of the University of Kentucky Albert B. Chandler Hospital.
The transaction is structured as a long-term public-private partnership (P3) through which Kentucky Infrastructure Partners will design, build, finance, and operate the facility for approximately 30 years following construction completion, targeted for 2029.
Provident Resources Group is a Baton Rouge-based national nonprofit organization committed to making a positive impact in communities across the country through the development, ownership, and operation of state-of-the-art educational, healthcare, and infrastructure facilities and services.
Fasken Martineau DuMoulin LLP served as Developer’s Counsel. Orrick, Herrington & Sutcliffe LLP were Underwriter’s Counsel, and Kutak Rock LLP advised as Borrower’s Local Counsel.
The project reflects Fishman Haygood’s ongoing work with clients and co-counsel across the country and the firm’s ability to support complex public finance and public-private partnership transactions nationwide.
Learn more about the firm’s Real Estate Practice here.
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