Ziegler Closes $30 Million Financing For Hallmark Health

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Ziegler, a specialty investment bank, is pleased to announce the successful closing of the Hallmark Health Series 2015 issue through the Massachusetts Development Authority. Hallmark Health System (Hallmark), a Ziegler client since 2008, operates two general acute care hospitals compromising 330 beds in the near north suburbs of Boston, MA and provides a full range healthcare services to the community.

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Ziegler was pleased to assist Hallmark with this important financing transaction which capitalizes important new money projects which facilitate the continuation of high quality healthcare delivery to the community...

Ziegler, a specialty investment bank, is pleased to announce the successful closing of the Hallmark Health Series 2015 issue through the Massachusetts Development Authority. Hallmark Health System (Hallmark), a Ziegler client since 2008, operates two general acute care hospitals compromising 330 beds in the near north suburbs of Boston, MA and provides a full range healthcare services to the community.

Ziegler served as placement agent for the $30,000,000 tax-exempt Series 2015 private placement that capitalizes certain new money projects. The issue was placed with Siemens Public Funding and was structured with a 10-year term commitment with a 20-year amortization schedule. Unlike traditional bank placement transactions, this transaction did not include lender increased cost provisions, meaning the fixed rate is truly fixed through the 10-year term commitment. Ziegler negotiated an early interest rate lock which protected Hallmark against the recent upward interest rate surge and favorable prepayment provisions on behalf of its long standing client.

James Nania, Executive Vice President and Chief Financial Officer commented, “During these uncertain and volatile times for many healthcare providers, we are pleased to be in a position whereby we can leverage our strong balance sheet and, in turn, continue to invest in healthcare services for the communities we serve.”

Mike Quinn, Managing Director in Ziegler’s healthcare practice, said, “Ziegler was pleased to assist Hallmark with this important financing transaction which capitalizes important new money projects which facilitate the continuation of high quality healthcare delivery to the community and continued growth in Hallmark’s already strong liquidity position. Hallmark leveraged its attractive credit profile to secure favorable terms with Siemens which has proven to be a great capital partner to community based healthcare systems across the country.”

Ziegler is a premier investment bank to community and regional healthcare providers. For over 80 years, we have been assisting these organizations with creative, tailored financial solutions for their capital needs. Specializing in healthcare, Ziegler offers an array of services including investment banking, financial risk management, merger and acquisition services, as well as capital and strategic planning.

For more information about Ziegler, please visit us at http://www.Ziegler.com.

About Ziegler:
The Ziegler Companies, Inc., together with its affiliates (Ziegler), is a privately held, 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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Leslie Weir
Ziegler
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