Brea Baptist had been searching a long time for a way to lower their debt service cost without exposing the ministry to excessive interest rate risk. When we presented our plan of long-term fixed-rate bonds that would lower their cost...
Chicago, IL (PRWEB) December 02, 2014
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $2,920,000 Series 2014 Bond issue for Brea Baptist Church. Brea Baptist Church was founded in 1987 in Yorba Linda, California.
After meeting in rented facilities for over a year, the church purchased a half-acre campus from another church in Brea, where it currently worships today. The church has since renovated and expanded the facilities located on the church site, including adding a 13,395 square foot multipurpose facility and a new 96-space parking lot. Construction of the multipurpose facility was funded with proceeds from a bond offering of the church completed in 2005 (not Ziegler-underwritten).
Proceeds of the 2014 Bonds were used to refinance the 2005 Bonds. The 2014 Bonds lowered the church’s average coupon to 5.28% and lowered its annual debt service by an amount that will save the church approximately $38,000 per year and $617,000 over the term of the 2014 Bonds.
Dave Rader, Senior Pastor at Brea Baptist Church, commented, “I am happy to say that we have just finished a refinance with Ziegler for our church and that our experience with this fine company has been truly a blessing. Bill Dodson and his team did a wonderful job of helping us day by day to navigate a process that brought huge savings to our church and increased our ability to use our funds more wisely and effectively for ministry. Thank you to everyone at Ziegler for being a great blessing to God’s work.”
“Brea Baptist had been searching a long time for a way to lower their debt service cost without exposing the ministry to excessive interest rate risk. When we presented our plan of long term fixed rate bonds that would lower their cost without extending the term of their debt, they were pleasantly surprised, and selected Ziegler to underwrite their new bond issue,” stated Bill Dodson, senior vice president in Ziegler’s religion & education practice and lead banker on this transaction along with Erin Wait.
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 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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