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Ziegler Closes $22,075,000 Financing For Forefront Living Plano (TX)

Ziegler, a national boutique investment bank, is pleased to announce its role in the successful closing of $22,075,000 of Series 2020 Bond Anticipation Notes (the "Series 2020 Notes") for Forefront Living Plano (FLP). The Series 2020 Notes are comprised of $20,575,000 Series 2020A Tax-Exempt Notes (the "Series 2020A Notes") sold publicly to institutional investors and $1,500,000 Series 2020B Taxable Notes (the "Series 2020B Notes") placed with affiliates of FLP.


News provided by

Ziegler

Dec 23, 2020, 17:00 ET

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CHICAGO, Dec. 23, 2020 /PRNewswire-PRWeb/ -- Ziegler, a national boutique investment bank, is pleased to announce its role in the successful closing of $22,075,000 of Series 2020 Bond Anticipation Notes (the "Series 2020 Notes") for Forefront Living Plano (FLP). The Series 2020 Notes are comprised of $20,575,000 Series 2020A Tax-Exempt Notes (the "Series 2020A Notes") sold publicly to institutional investors and $1,500,000 Series 2020B Taxable Notes (the "Series 2020B Notes") placed with affiliates of FLP.

The proceeds of the Series 2020 Notes will be used to finance (i) the cost of acquiring a tract of land consisting of approximately 18 acres situated in the City of Plano, Collin County, Texas, (ii) the preconstruction development costs of a new retirement community to be known as "The Outlook at Windhaven," anticipated to include approximately 180 independent living units, 32 assisted living units and 24 memory support units, and associated common areas (collectively, the "Community"), and (iii) the costs of issuing the Series 2020 Notes.

Brandon Powell, Managing Director, Ziegler Senior Living Finance added, “We are extremely pleased to assist in launching another chapter in the evolution of Forefront Living with the closing of this bond anticipation note offering.”

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Presbyterian Communities and Services, Inc. d/b/a Forefront Living is the parent and sole corporate member of FLP. Forefront Living is a Texas nonprofit corporation whose mission is "to make each moment matter for those we serve." Forefront Living has full authority over FLP, including, among other things, electing FLP's advisory board, amending FLP's governing documents, and approving the sale, exchange, lease or any transfer of any of the assets of the Borrower.

Tim Mallad, Chief Executive Officer, Forefront Living stated, "The Outlook at Windhaven is the third financing our organization conducted with Ziegler. Their thoroughness, hard work and team based approach resulted in an excellent outcome for our organization. We look forward to our next transaction with them."

Brandon Powell, Managing Director, Ziegler Senior Living Finance added, "We are extremely pleased to assist in launching another chapter in the evolution of Forefront Living with the closing of this bond anticipation note offering."

Ziegler is one of the nation's leading underwriters of financing 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.

# # #

Media Contact

Christine McCarty, Ziegler, 3125961617, [email protected]

SOURCE Ziegler

Related Links

http://www.ziegler.com

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