CHICAGO, Dec. 9, 2020 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $16,055,000 Series 2020 Bonds for The Columbia College. The non-rated offering was issued through the South Carolina Jobs-Economic Development Authority. The proceeds of the bonds will be used primarily to refinance an existing debt obligation and finance various campus improvement projects.
The Columbia College (the "College") was founded in 1854 as Columbia Female College by the Methodist Conference of South Carolina, and is located in Columbia, South Carolina. The College has grown to a liberal arts institution offering undergraduate and graduate degrees, presently enrolling approximately 1,200 students on campus, in the evenings and on the weekends, and online. The College's day-student, on-campus undergraduate program is a traditional undergraduate program that offers over 40 degrees. The College also offers on-campus evening and 100% online undergraduate programs. For graduate students, the College offers a hybrid program that combines on campus, in person instruction one weekend a month with a robust but flexible online component and a 100% online program.
On January 30, 2020, the Board of Trustees announced its decision that the College would admit men to the Traditional Undergraduate program beginning the Fall Semester of 2021, later accelerating their decision to include enrollment for the Fall Semester of 2020. In August 2020, the Board of Trustees selected Dr. William T. (Tom) Bogart to become the College's twentieth president.
This transaction marked the College's first public bond offering. Dr. Bogart, President of the College noted, "Our leadership team explored a number of financing options, leading up to the bond sale. Ziegler's thorough and thoughtful approach to this financing helped reinforce the financial future of the College."
"We are marking a transformational time for Columbia College. The decision to admit men into the College's traditional undergraduate programs and the introduction of new programming will further enhance Columbia's future," stated Brian Riordan, Managing Director and Head of Ziegler's Higher Education Finance Practice. Riordan continued, "Ziegler is appreciative of the trust College leadership placed in us to help navigate to a successful transaction. We look forward to a very bright path ahead for Columbia College."
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.
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.
Christine McCarty, Ziegler, 3125961617, [email protected]