Ziegler Closes $232.215 Million Financing for Acts Retirement-Life Communities, Inc.
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the
Acts, a
Acts originated from the concern of the members of a suburban
Acts is the nation's third largest not-for-profit provider of senior living services based upon the 2015 LeadingAge Ziegler 150 (LZ 150) ranking and the largest headquartered in
Acts issued its Series 2016 Tax-Exempt Bonds to (i) currently refund all or a portion of the outstanding Series 2006A&B Pennsylvania Bonds and Series 2006A&B Florida Bonds; (ii) advance refund all or a portion of the outstanding Series 2009A-1 Pennsylvania Bonds, Series 2010 Florida Bonds, and Series 2009A-2
The Series 2016 Tax-Exempt bonds closed concurrently with the 2016 Taxable Corporate Notes. The 2016 Taxable Corporate Notes were used to (i) currently refund all or a portion of the outstanding Series 2003A ACTS corporate obligation; (ii) advance refund all or a portion of the outstanding Series 2009A-2
Acts has been a Ziegler client for over 20 years and has been in the investment grade category since 1996. The Bonds do not have a
"This financing enabled Acts to take advantage of historically low interest rates to refinance and rework existing debt, as well as borrow new money for a variety of capital projects on several campuses. Not only was it a large issuance, but it was complicated, too, with several states, issuers and series involved. The Acts team worked quickly and nimbly during a rapidly changing market environment to achieve the optimal debt structure, which resulted in an ability to fund
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:
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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Read the full story at http://www.prweb.com/releases/2016/12/prweb13893282.htm
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