CHICAGO (PRWEB) March 12, 2021
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the Henry Mayo Newhall Hospital (“Henry Mayo” or the “Hospital”) $109,690,000 Series 2021A, Series 2021B, and Series 2021C Bonds (the “Bonds”) issued through the California Public Finance Authority.
Henry Mayo, rated ‘BBB-’ by S&P, is a 357-bed hospital that was incorporated in 1972 and began providing health care services in 1975. The Hospital’s facilities are located on approximately 34 acres in Santa Clarita, California (northern Los Angeles County). As the sole acute care provider in the Santa Clarita Valley, Henry Mayo’s facilities include a fully-accredited acute care hospital facility and Level II trauma center that provide a wide range of medical and surgical services.
Ziegler served as the sole manager on all three series of the Series 2021 Bonds. $30,310,000 Series 2021A are fixed rate bonds, $5,490,000 Series 2021B are put bonds, and $73,890,000 Series 2021C are AGM insured taxable fixed rate bonds. Proceeds of the sale of the Bonds will be used to current refund the Series 2013A and 2013B Bonds, advance refund a portion of the Series 2014 Bonds, finance a portion of the new surgical suites and space for surgical supplies and equipment storage in the Patient Tower, and pay costs of issuance. As a result of the refinancing, Henry Mayo achieved cash flow savings by reducing its cost of capital.
Henry Mayo has been an existing client of Ziegler's Healthcare Finance practice for over eight years.
Ziegler is a premier investment bank to community and regional healthcare providers. For over 80 years, we have been assisting these organizations with creative, tailored financial solutions for their capital needs. Specializing in healthcare, Ziegler offers an array of services including investment banking, financial risk management, merger and acquisition services, as well as capital and strategic planning.
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.