We are excited to again partner with Coram Deo Academy on the development of its Plano Campus. This financing enables the school to access long-term, fixed rates during a favorable interest rate environment.
Chicago, IL (PRWEB) August 19, 2014
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $8,575,000 fixed-rate Series 2014 Bond issue for Coram Deo Academy, a Ziegler client since 2009. Coram Deo Academy (Coram Deo), located in Flower Mound, Texas, was established in 1999 as a private, faith-based, non-denominational school operating in multiple locations in the Dallas – Fort Worth area. The school currently operates from four campuses located in Flower Mound, Dallas and two in Plano, Texas, with total enrollment of approximately 1,050 in grades PreK through 12.
In 2009, Ziegler underwrote a $2,500,000 taxable bond issue for the school to pay off a bank loan incurred to purchase the school’s original campus located in Flower Mound and to fund improvements to the campus. In fall 2010, the school moved its second campus from Carrollton, Texas to two campuses located in Plano. A portion of the proceeds from the 2014 Bonds will be used to build out one of the Plano campuses to accommodate a full PreK-12 grade campus and consolidate the two Plano campuses to one location. Upon completion of this project, the school will operate from three campuses located in Flower Mound (serving grades PreK-12), Dallas (serving grades PreK–8) and Plano (serving grades PreK-12).
The Tax Exempt Series 2014A and Taxable Series 2014B Bonds were issued by the Hackberry Cultural Education Facilities Finance Corporation in order to fund the project at the school’s Plano campus, which includes the construction of a 27,800 square foot multi-purpose building with offices, classrooms and a gymnasium/assembly area, and to refund the school’s 2009 Bonds to take advantage of lower tax-exempt rates.
“A 30-year fixed rate structure with flexible prepayment options was important to us. Ziegler has been a financing partner since 2009. They guided us through the process and showed why they are a market leader in faith-based financings, ” stated Brian Shaw, President of the Board of Directors of Coram Deo Academy.
Steve Hron, Director in Ziegler’s Religion & Education practice, commented, “We are excited to again partner with Coram Deo Academy on the development of its Plano Campus. This financing enables the school to access long-term, fixed rates during a favorable interest rate environment. “
Since our first financing in 1913, Ziegler has become a recognized leader in providing creative, tailored solutions to religious institutions. Focusing on multidenominational places of worship and K-12 private schools, Ziegler offers long-term, fixed-rate financing, tax-exempt financing and short-term, variable rate financing.
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.
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, as well as general municipal and structured finance. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, corporate finance, FHA/HUD, strategic advisory services and research. 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.
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