CHICAGO, Dec. 22, 2021 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $23,550,000 Series 2021 Bonds for Hallmark University.
The bonds are issued through the City of San Antonio, Texas Education Facilities Corporation and are non-rated. Bond proceeds will be used primarily to finance the acquisition and redevelopment of a new main campus building.
The University was founded in 1969 as Hallmark Aero-Tech as a for-profit institution. Hallmark's first campus was located at San Antonio's historic Stinson Municipal Airport and the first program approved was Aviation Maintenance Technology, offered as a diploma program. On September 18, 1969, the doors opened to eight pioneering students who paved the way for the many thousands of proud Hallmark alumni that have followed. The University continues to operate today on these original values. Consistent with its mission, the University converted to a non-profit organization in 2013.
Hallmark is a fully accredited, co-educational university with two campuses located in San Antonio, Texas, offering degree programs in business, information technology, healthcare, and aeronautics. The University's accelerated academic calendar allows students to earn bachelor's degree in 28 months, and a master's degree in as little as 10 months. For the academic year 2020-21, the University has an enrollment of 1,280 students in its undergraduate and graduate programs.
This is the first time the University has accessed the public capital markets. "The acquisition of this new property is one of the most significant events in Hallmark's rich history," noted Joe Fisher, President of Hallmark University. "It provides for expanded opportunities and services for our students and our community. The entire University team is grateful for the expertise and professionalism Ziegler provided, to help guide us through the entire bond experience."
"It was an absolute pleasure working with Joe and the entire Hallmark leadership team. This financing will help pave the way for the future of the University. We are excited for the University to establish their new campus home, and look forward to mapping the bright future of the institution," commented Brian Riordan, Managing Director and Head of Ziegler's Higher Education Finance Practice.
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]
SOURCE Ziegler
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