Ziegler Closes $19 Million Sunset Retirement Communities Financing
21 November 2011 - 7:51PM
Marketwired
Ziegler, a specialty investment bank, is pleased to announce the
successful closing of a $18,925,000 fixed-rate issue for Sunset
Retirement Communities (Sunset). Sunset is a 501(c)3 non-profit
organization which was founded in 1871 as the Home for Friendless
Women, providing care and housing for women with limited financial
means and without family or friends to care for them.
Sunset currently operates two retirement communities located in
the City of Toledo and Sylvania Township, which are comprised of 65
congregate apartments, 150 assisted living units, and 81 skilled
nursing beds. Sunset has recently expanded its continuum of
services with hospice and palliative care programs. The Series 2011
Bonds were issued to refund the outstanding Series 2000A Bonds and
structured to match the maturity of Sunset's refunded bonds. The
refinancing saves Sunset Retirement Communities an average of
$126,000 per year, which represents $1.35 million (7.27%) in net
present value savings throughout the 19-year life of the Series
2011 Bonds. The Series 2011 Bonds are rated "A-" with a stable
outlook by Fitch. In addition, Sunset is a new client for
Ziegler.
Ziegler is one of the nation's leading underwriters of financing
for not-for-profit senior living providers and offers 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. Tom Meyers, Managing Director in Ziegler's
Senior Living practice, commented, "In the face of an ever changing
operating environment, it was great to help Sunset deliver a slice
of stability to its cash flows through 2030. The savings created by
this financing will help add certainty to Sunset's mission as it
journeys forward in caring for the elderly of the Toledo area."
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
www.Ziegler.com.
About Ziegler:
The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its
affiliates (Ziegler) is a specialty investment bank with unique
expertise in complex credit structures and advisory services.
Nationally, Ziegler is ranked as one of the leading investment
banking firms in its specialty sectors of healthcare, senior
living, religion and education finance, as well as corporate
finance and FHA/HUD. Headquartered in Chicago, IL with regional and
branch offices throughout the U.S., Ziegler creates tailored
financial solutions including bond financing, advisory, private
placement, seed capital, M&A, risk and asset management.
Ziegler serves institutional and individual investors through its
wealth management and capital markets distribution channels.
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
This communication does not constitute an offer to buy these
securities. The offering is made only by the Official Statement and
through an appropriately registered representative. The Series 2011
Bonds may not be appropriate for all investors. Market value and/or
accrued interest will fluctuate during the period held, and, if
sold prior to maturity, the yield received may be more or less than
the yield calculated at the time of purchase. Discounted yields
herein are gross yields to maturity. Discounted bonds may be
subject to capital gains tax, rates of which will vary, so
investors should consult their own tax advisor with regard to their
personal tax situation. Interest on municipal bonds may be exempt
from federal income tax but may be subject to tax for residents of
certain states. For bonds designated AMT, taxes may exist for
certain investors. Ziegler will sell these bonds on a principal
basis.
The corporation or its officers, directors, stockholders, or
members of their families may at times have a position in the
securities mentioned herein and may make purchases or sales of
these securities. Not all call or put information is identified in
the description above. Please be sure to discuss any special
features with your Financial Advisor before deciding whether to
invest in these securities.
Christine McCarty 312 596 1617 Email Contact
Ziegler Companies (CE) (USOTC:ZGCO)
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