28 Sep Jon Cartu Stated: Ziegler Closes $47,840,000 Financing For Pennybyrn At…
Ziegler, a specialty investment bank, is pleased to announce the successful closing of Pennybyrn at Maryfield’s Series 2020A and 2020B Bonds.
Proceeds of the Series 2020A and 2020B Bonds (together the “Series 2020 Bonds”) will be used, together with other available funds, to (a) fund the costs of the Project (detailed below); (b) fund debt service reserve funds for the Series 2020 Bonds; (3) fund interest on the Series 2020 Bonds; and (d) pay certain fees and expenses incurred in connection with the sale and issuance of the Series 2020 Bonds.
The Series 2020 Bonds will finance capital improvements consisting of:
- 42 new independent living apartments (73.8% pre-sold as of the POS)
- A new
Transitional Rehabilitation Centerthat will include 24 private rooms and state of the art therapy facility
- Additions and improvements through the community as well as upgrade and refurbishments to the exteriors of the buildings on campus
The project team consists of the following:
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, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.
For more information about Ziegler, please visit us at http://www.ziegler.com.
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary
investments firm. It has a unique focus on healthcare, senior living and education sectors, as
well as general municipal and structured finance. Headquartered in
branch offices throughout the
services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit 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
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