CHICAGO, Dec. 18, 2024 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of RiverWoods Exeter's Series 2024 Bonds totaling $39,680,000 of par amount (the "Bonds") for the Senior Living Finance Practice.
Ziegler, a specialty investment bank, is pleased to announce the successful closing of RiverWoods Exeter's Series 2024 Bonds totaling $39,680,000 of par amount (the "Bonds") for the Senior Living Finance Practice.
RiverWoods at Exeter is a not-for-profit organization that owns and operates a three campus CCRC located in Exeter, which is within the Seacoast Region of New Hampshire. These campuses reside on a contiguous parcel of over 200 acres of heavily wooded land with frontage on the Exeter River, approximately two miles from the center of the Town of Exeter.
These three campuses provide housing, health care, and other related services to residents. Amenities are available to all residents regardless of which campus they reside. The operations of The Woods, The Ridge, and The Boulders campuses began in August 1994, October 2004, and March 2010, respectively. Across its three campuses, RiverWoods Exeter includes a total of 393 independent living units, 71 assisted living units, and 78 nursing beds for a total of 542 total units.
RiverWoods Exeter is also affiliated with two other CCRC's managed by a supporting corporation, the RiverWoods Group, which are located in Durham and Manchester, New Hampshire respectively.
Proceeds of the Series 2024 Bonds will be used to refinance the outstanding Series 2012AB Bank Loans and fund costs of issuance related to the financing. The Bonds are rated "A-" by Fitch and will have level annual debt service payments through October 1, 2038.
Keith Robertson, Managing Director, Ziegler Senior Living Finance stated, "Ziegler is proud to have once again partnered with the RiverWoods organization, supporting their continued commitment to providing exceptional senior living communities and services in New Hampshire."
Kevin Goyette, Chief Financial Officer, RiverWoods added, "Having utilized private placement bank debt over the past two decades, we knew we needed to partner with a trusted resource on this public deal. In addition to strong financial analysis, the Ziegler team provided education for our Board, leadership team, and members of our resident finance committee. Throughout the process, the team exhibited patience and ultimately secured a favorable outcome which will serve as a solid foundation for our future initiatives."
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.
Media Contact
Christine McCarty, ziegler, 3125961617, [email protected], www.ziegler.com
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