Ziegler Closes $55 Million Series 2021 Bonds For Lasell University
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $54,800,000 Series 2021 Bonds for Lasell University. The bonds are issued through the Massachusetts Development Finance Agency, and are rated BB+ by S&P. The proceeds of the bonds will be used to refinance certain existing debt obligations and a related swap termination.
CHICAGO, June 15, 2021 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $54,800,000 Series 2021 Bonds for Lasell University. The bonds are issued through the Massachusetts Development Finance Agency, and are rated BB+ by S&P. The proceeds of the bonds will be used to refinance certain existing debt obligations and a related swap termination.
Lasell University ("Lasell" or the "University"), founded in 1851, is an independent, coeducational, comprehensive liberal arts university with a focus on career readiness. The University is located on a 54-acre campus located in Newton, Massachusetts, a residential suburb bordering Boston, Massachusetts. For the academic year 2020-21, the University had an enrollment of 2,022 students in its undergraduate and graduate programs.
The University offers nearly 50 baccalaureate programs in Business, Communication, Fashion and Design, Allied Health, Teacher Education, Criminal Justice, Information Technology, and the Arts and Sciences. Lasell also offers 14 Master of Science degrees in various fields of Business, Criminal Justice, Communication, Education, Athletic Training, Nutrition, Rehabilitation Science, Sport Management, and Applied Sport Science Analytics with several concentrations and associated certificate options. In 2018, the University restructured its academic division into five schools: Business; Communication & the Arts; Fashion; Health Sciences; and Humanities, Education, Justice, and Social Sciences. In 2000, Lasell opened Lasell Village, a continuing care retirement community with a central focus on intergenerational collaborations between residents and traditional-aged Lasell students. Lasell has gained numerous state and national recognition for its work, and was recently unanimously elected to join the Boston Consortium for Higher Education.
The University last accessed the public capital markets in 2011. PFM served as the University's financial advisor on the transaction. "The strength of Lasell's leadership team and its vision for the future were well noted by the investor community. This financing solidifies the University's capital structure for years to come, while providing additional operational flexibility," commented Brian Riordan, Managing Director and Head of Ziegler's Higher Education Finance Practice. "We have truly enjoyed partnering with President Michael Alexander and Lasell's senior leadership team on this very important financing. We look forward to marking how the University continues to distinguish itself among other private higher education institutions, through innovative and relevant program offerings for today's students."
Ziegler is one of the nation's leading underwriters of financing not-for-profit borrowers. Ziegler offers creative, tailored solutions to its higher education clients, including investment banking, financial risk management, merger and acquisition services, private placement services, USDA financing, capital and strategic planning as well as higher education research, education and communication.
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.
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]
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