Ziegler is proud of its relationship with the Lutheran Homes of South Carolina, a dynamic, well-managed organization that participates in a broad spectrum of seniors-related businesses. The results of the Series 2013 financing were outstanding and...
Chicago, IL (PRWEB) June 21, 2013
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $35,450,000 tax-exempt, fixed-rate The Lutheran Homes of South Carolina Series 2013 Bond issue. The Lutheran Homes of South Carolina, Inc. is a South Carolina not-for-profit corporation operating five continuing care retirement communities, three hospice offices and three non-medical in-home services agencies throughout the state.
The Lutheran Homes of South Carolina ranks 69th on the Leading Age Ziegler 100 for 2012 with campuses consisting of a total of 386 independent living apartments and cottages, 347 assisted living units, and 324 nursing units. The Lutheran Homes of South Carolina, Inc., Lutheran Homes of South Carolina Foundation, Inc., and Lutheran Services, Inc. comprise the obligated group for the Series 2013 Bonds.
Proceeds of the Series 2013 Bonds, together with other sources of funds, will be used to refund the outstanding Series 1998 Bonds and provide funds to construct an additional 44 skilled nursing beds on one of its campuses. The Series 2013 Bonds are tax-exempt, non-rated, fixed-rate bonds issued on parity with the outstanding Series 2012 and Series 2007 Bonds.
Tad Melton, Director in Ziegler’s Senior Living practice, commented, “Ziegler is proud of its relationship with the Lutheran Homes of South Carolina, a dynamic, well-managed organization that participates in a broad spectrum of seniors-related businesses. The results of the Series 2013 financing were outstanding and represent the culmination of a tightly-managed, team-oriented process.”
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.