Ziegler, a national boutique investment bank, is pleased to announce the successful closing of $76,000,000 Series 2023 Bank Bonds for Brazos Presbyterian Homes, Inc. (BPH). The Series 2023 Bank Bonds are tax-exempt draw-down bonds supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark.
CHICAGO, March 16, 2023 /PRNewswire-PRWeb/ -- Ziegler, a national boutique investment bank, is pleased to announce the successful closing of $76,000,000 Series 2023 Bank Bonds for Brazos Presbyterian Homes, Inc. (BPH). The Series 2023 Bank Bonds are tax-exempt draw-down bonds supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark.
Organized on October 27, 1960, BPH is a non-profit corporation that ranks as the 129th largest multi-site non-profit senior living provider in the LeadingAge Ziegler which is a ranking of the nation's 200 largest not-for-profit senior living organizations across the country. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village (LHV).
BPH will use the proceeds of the Series 2023 Bank Bonds to:
- Fund the Ballantyne Expansion Project at LHV
- Refinance a portion of the outstanding Series 2013B Bonds; and
- Pay costs of issuance of the Series 2023 Bonds.
The Ballantyne Expansion Project consists of 48 new independent living apartments that are 100% pre-sold, with underground parking. Additionally, LHV will renovate commons spaces (dining, putting green, theater, wellness spa, fitness center and pool). To assist with the development and marketing of the Ballantyne Expansion Project, BPH utilized the services of Greenbrier Development.
Deidre Kinsey, Chief Operating Officer, Brazos Presbyterian Homes, Inc. stated, "Brazos Presbyterian Homes and LHV appreciate the dedication of Brandon Powell and the Ziegler team for bringing the long-awaited Phase 2 to Longhorn Village. Ziegler has been an instrumental partner in providing guidance during this project and securing the financing during economic uncertainty and a volatile marketplace."
Ziegler is the nation's leading underwriter of financings for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication.
For more information about Ziegler, please visit us at http://www.ziegler.com.
About Ziegler:
Ziegler is a privately held, national boutique investment bank, capital markets and proprietary investments firm. It has a unique focus on healthcare, senior living and education sectors, as well as general municipal and structured finance. Headquartered in Chicago with regional and branch offices throughout the U.S., Ziegler provides its clients with capital raising, strategic advisory services, fixed income sales, underwriting and trading as well as Ziegler Credit, Surveillance and Analytics. To learn more, visit http://www.ziegler.com.
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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Media Contact
Christine McCarty, Ziegler, 3125961617, [email protected]
SOURCE Ziegler
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