American Leadership Academy Johnston
$81 Million financing supports campus acquisition and expansion for growing charter school in North Carolina
The Financing
Baird secured approximately $81 million in bond financing for American Leadership Academy Johnston through the issuance of its Education Facility Revenue Bonds, Series 2026. The financing was issued using a “hybrid” structure, which included $40.9 million of Series 2026A Bonds amortized through 2065 and $40.5 million of Series 2026B Bonds that matured in 2036 through a “bullet” structure to take advantage of the lower rates on the shorter end of the yield curve. This provided a capital solution to support the school’s continued growth and transition to a permanent facility ownership structure. The bonds are secured by lease payments derived from school operations and a mortgage on the project facilities.
The financing was well received by investors, achieving strong interest for both series. The bonds were placed with a mix of 10 separate institutional investors, reflecting strong demand for charter school credits.
The Project
Bond proceeds financed the acquisition of an approximately 48-acre campus in Clayton, North Carolina and supported the expansion of existing educational facilities. The campus includes two school buildings totaling approximately 137,000 square feet and currently serves students in grades K–12.
The project also includes approximately $15.8 million of capital improvements to expand capacity and enhance campus amenities. These improvements include construction of a new gymnasium and classroom building, athletic facility enhancements, and site and infrastructure upgrades. Upon completion, the campus is expected to accommodate approximately 2,700 students.
The School
American Leadership Academy Johnston is operated by Leadership Schools of Johnston County, a North Carolina nonprofit organization, and is managed by Charter One, a national education management organization. The school opened in the 2022–23 academic year and has experienced rapid enrollment growth, expanding to more than 2,000 students while building out a full K–12 program.
The school offers a classical, leadership-focused curriculum designed to prepare students for college and career success, with an emphasis on academic rigor, civic responsibility, and character development. Located in Johnston County within the Research Triangle region, the school benefits from strong population growth and increasing demand for high-quality public charter education.
