This financing allows Intrinsic Schools to take advantage of favorable market conditions to achieve significant savings that can be used to better serve the need of students rather than debt service...
Chicago, IL (PRWEB) December 21, 2015
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $21,855,000 fixed-rate bond issue for Intrinsic Schools of Chicago (Intrinsic), a charter school authorized by Chicago Public Schools. Bond Proceeds were used to refinance the construction loan for their Belmont Campus on a long-term fixed rate basis, taking advantage of current low market rates.
Opening its door to students in 2013, Intrinsic is now in its third academic year, serving students in grades 7-11 with over 825 students enrolled. The school’s mission is to prepare all students for 21st century, post-secondary success and to cultivate independent, intellectually curious learners. To achieve this, Intrinsic has created a new model that leverages technology to personalize learning through a unique educational model that blends self-paced learning technology, student-led team projects, “flipped” lecture, inquiry-based instruction and hands-on Science Technology Engineering Mathematics (STEM) labs.
The Series 2015 Bonds were issued by the Illinois Finance Authority and will refinance Intrinsic’s state-of-the-art school located in Chicago’s Belmont-Cragin neighborhood. The 58,000 square foot facility more closely resembles high-tech office space than a traditional public school and implements innovative layouts based on the instructional model created by Intrinsic. In September, Wheeler Kearns Architects received the “Frank Lloyd Wright Honor Award for New Design or Renovation” from the American Institute of Architects of Illinois for its design work on the Belmont Campus.
John “Tiny” McLaughlin, Senior Vice President in Ziegler’s Charter School Finance practice, stated, “This financing allows Intrinsic Schools to take advantage of favorable market conditions to achieve significant savings that can be used to better serve the need of students rather than debt service. The financing was structured to provide a 30-year fixed interest rate along with the flexibility for development of future Intrinsic campuses in the years ahead.”
With over 100 years of raising capital for communities, Ziegler is a recognized leader in the educational sector throughout the U.S. We continue that tradition with our dedicated services to the national charter school market. Ziegler provides its charter school clients with capital for financing new construction, refinancing existing debt or advising on future developments. As one of the few financial services firms in the country that has a dedicated team of charter school finance professionals, Ziegler can offer unbiased advice to help advance your mission.
For more information about Ziegler, please visit us at http://www.Ziegler.com.
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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