“The strength of Ohio Northern’s leadership team was apparent to the investor community. Relevant academic programming and a focus on sound operations clearly set the University apart,” commented Brian Riordan, Managing Director and Head of Ziegler’s Higher Education Finance Practice.
CHICAGO (PRWEB) November 25, 2020
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $26,745,000 Series 2020 Bonds for Ohio Northern University.
The non-rated offering was issued through the County of Hardin, Ohio. The proceeds of the bonds will be used primarily to refinance certain existing debt obligations and finance campus energy management projects.
Ohio Northern University was established in August 1871 on the site still occupied by the University in the Village of Ada, Ohio. August 1899 marked the beginning of the University’s association with the United Methodist Church, which continues to this day. Its five colleges provide nationally ranked arts, sciences and professional programs, as well as a diverse array of experiential learning opportunities.
The University offers one of the broadest spectrums of quality academic programs among private institutions of comparable size, thus attracting students with many different educational goals. With a student population of approximately 2,800, the University is small enough to provide a personalized atmosphere but large enough to bring its students into contact with diverse opinions, beliefs and societal backgrounds as part of their educational experience. Ohio Northern has a rich history of academic excellence, recently being recognized for teaching quality, high graduation rates, commitment to volunteer service, and providing a high return on investment for its graduates.
This transaction marked the University’s second public bond offering, having previously accessed the capital markets in 2005. Jason Broge, Vice President for Financial Affairs noted, “We have enjoyed our partnership with Ziegler. Our financing team worked hard to address approaching bank loan maturities and a new energy management project. With the success we enjoyed on the USDA financing in 2018, working alongside of both Ziegler and our municipal advisor was important to the University. Ziegler helped us navigate through a challenging market, so that we could properly articulate ONU’s story to the right grouping of prospective bondholders.”
“The strength of Ohio Northern’s leadership team was apparent to the investor community. Relevant academic programming and a focus on sound operations clearly set the University apart,” commented Brian Riordan, Managing Director and Head of Ziegler’s Higher Education Finance Practice. “This financing solidifies the institution’s capital structure for years to come, allowing them to continue to focus on their mission.”
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.
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