This project was a joy for us to work on from start to finish. The team at Rogers Park Montessori assembled all the ingredients of a very successful project, and partnered with Ziegler on how to best structure and communicate the project to investors...
Chicago, IL (PRWEB) October 27, 2014
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $18,515,000 fixed-rate Series 2014 Bond issue for Rogers Park Montessori School. Rogers Park Montessori (RPMS) was founded in 1966 to bring high-quality Montessori educational opportunities to the north side of Chicago.
RPMS currently serves 383 students from pre-school to 8th grade. As a result of growing interest in Montessori education and a desire to serve their growing community, the school has spent the past two years developing plans for a 14,000 square foot addition to the existing 47,000 square foot building. This new initiative will allow RPMS to enrich their co-curricular (art, drama, music and Spanish) programming and provide an enhanced Montessori middle school experience for their students.
The Series 2014 Bonds were issued by the Illinois Finance Authority and refunded approximately $10,810,000 of outstanding Series 2004 Bonds that funded acquisition and construction of the existing building and provide and additional $8,156,264 for renovations to the existing building and construction of a 14,000 square foot middle school wing.
Ziegler began working with the client in the fall of 2013 to assist in structuring the credit in a way that made sense for both the school and potential investors. Strong demand for the bonds and favorable market conditions allowed the school to refinance its existing debt and fund the new project at rates well below the rates it was paying on the initial 2004 Bonds.
Scott Rolfs, Managing Director and head of Ziegler’s Religion & Education practice, commented, “This project was a joy for us to work on from start to finish. The team at Rogers Park Montessori assembled all the ingredients of a very successful project, and partnered with Ziegler on how to best structure and communicate the project to investors, which is our specialty at Ziegler.”
Since our first financing in 1913, Ziegler has become a recognized leader in providing creative, tailored solutions to religious and educational institutions. Focusing on multidenominational places of worship, charter schools 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.
About Rogers Park Montessori School:
Rogers Park Montessori School (RPMS) provides exemplary educational opportunities for children from age 2 through 8th grade. The mission of the school is to create an environment where all children are inspired to reach their highest potential as individuals and learners. The school board, administration and faculty follow the Montessori philosophy of education, which at its core is about producing vital members of the global community. RPMS is committed to creating and maintaining a diverse school population and environment that includes differences of gender, race, religion, family structure, socio-economic level, culture, age, sexual orientation, language, physical abilities, and learning styles. More information about the school is available at http://www.rpmschool.org.
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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