Ziegler Closes $39.325 Million Still Hopes Financing

News Image

Still Hopes and Ziegler have a long-standing relationship and Ziegler is proud to be a partner with Still Hopes over the years. Still Hopes stands out as a progressive organization that strives to stand at the forefront of the industry and provide its residents with a world class experience…

Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $39,325,000 Series 2017 financing for the South Carolina Episcopal Home at Still Hopes, a long-standing Ziegler client.

The South Carolina Episcopal Home at Still Hopes d/b/a Still Hopes was incorporated in 1975 as a South Carolina not-for-profit corporation, to own and operate a continuing care retirement community (CCRC) on an approximately 43-acre site in West Columbia, South Carolina known as Still Hopes. Still Hopes stands on the Guingnard family homeplace known as Still Hopes that dates back to the early 1800’s, which was transferred to Still Hopes in 1977 and still features a 107-year old antebellum style mansion as a landmark to this day. Still Hopes currently consists of 192 Independent Living Units, 24 Dementia Assisted Living Units, 22 Rehabilitation Beds and 40 Skilled Nursing Beds.

Proceeds of the Series 2017 Bonds will be used, together with other available funds, to (i) finance the cost of constructing and equipping a new health center to be known as HealthPointe (48 skilled nursing beds and 22 assisted living apartments) that will replace its existing 40 skilled nursing beds; (ii) fund a debt service reserve fund; (iii) fund interest during construction and (iv) pay certain costs of issuance associated with the financing.

“Still Hopes and Ziegler have a long-standing relationship and Ziegler is proud to be a partner with Still Hopes over the years. Still Hopes stands out as a progressive organization that strives to stand at the forefront of the industry and provide its residents with a world class experience. The Health Pointe project continues this tradition at Still Hopes and the highly successful Series 2017 financing was met with widespread support from the capital markets,” commented Tad Melton, Managing Director in Ziegler’s senior living practice.

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.

About Ziegler:
Ziegler is a privately held investment bank, capital markets, wealth management and proprietary investments firm, celebrating its 115th anniversary this year. Ziegler is ranked No. 1 in the country in healthcare/senior living underwriters by issuance and No. 4 by par amount (Thomson Reuters, 2016), and is ranked in the top 20 municipal underwriters in the country by volume (Bloomberg, 2016). Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance enables Ziegler to generate a positive impact on the communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research. 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 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.
# # #

Powered by WPeMatico

You might like

About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
%d bloggers like this: