Ziegler, a specialty investment bank, is pleased to announce the successful closing of the
The proceeds of the 2014 Bonds will be loaned to the Corporation to (1) finance the cost of the construction and equipping of the facility, (2) repay a taxable loan to the Corporation from
In 2004 Ziegler began advising the Episcopal Communities & Services (ECS) Board on growth and operational benchmarking. Ziegler assisted management in converting an auction rate debt issue to a fixed rate in 2010 after the recession caused disruption of the insurance and auction rate markets. In 2012, Ziegler took ECS's obligated group through the rating process, leading to an "A minus" rating with Fitch and a refinancing of all obligated group debt. A master indenture was put in place at that time in anticipation of the MonteCedro issuance on a non-recourse basis. Gaining Cal-Mortgage approval to insure the start-up without support from the
"All of us at Ziegler are so pleased to see our long-time client, Episcopal Communities and Services, in a position to serve even more seniors in the southern
Ziegler is one of the nation's leading underwriters of financing for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, investment management, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.
For further information on the structure and use of this issue, please see the Official Statement located on the Electronic Municipal Market Access system's Document Archive.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client's experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.
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Read the full story at http://www.prweb.com/releases/2014/06/prweb11966670.htm
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