Brian Riordan, Managing Director and Head of Ziegler’s Higher Education Finance Practice, stated, “We were excited to partner with such a dynamic team. Bright days ahead for Ottawa!”
CHICAGO (PRWEB) December 16, 2020
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $38,525,000 Series 2020 Bonds for Ottawa University. The non-rated offering was issued through the Industrial Development Authority of the County of Maricopa. The proceeds of the bonds will be used primarily to refinance existing debt obligations.
Ottawa University (the “University”) is a private, non-profit institution with multiple sites. The University’s traditional campus was founded in 1865 in Ottawa, Kansas. The University opened a second residential campus in Surprise, Arizona the Fall of 2017. The University also offers education at centers for adult learners in Arizona, Indiana, Kansas and Wisconsin and an Online Division for those students wanting to complete their degree without the traditional classroom settings. The University is accredited through the Higher Learning Commission, and serves over 5,000 students.
Today, Ottawa University’s students are served through a combination of strategic business units: its main residential campus located in Ottawa, Kansas serving primarily traditional college age students between 18 and 23 years of age; a second residential campus in Surprise, Arizona, also primarily serving traditional college age students; three ground-based adult sites which serve learners in Phoenix, Arizona; Milwaukee, Wisconsin; and Overland Park, Kansas; a highly successful online unit which serves students in most states and several foreign countries; and an international graduate studies program. The Online, International, Professional and Graduate Studies unit of the University extends the Ottawa University name to the world.
This transaction marked the University’s first public bond offering with Ziegler. Kevin Eichner, Chancellor for Ottawa University noted, “We were very pleased with the support, counsel and execution of the Ziegler team. This offering was very well received in the market not only because Ottawa has a great story to tell, but because we had excellent people to help us tell it and to make sure it was shared with people who were able to discern what sets our institution apart. A very successful engagement all around that is providing much needed capital to sustain our growth.”
“Ottawa’s vision for the future is strong, and their recapitalization will pave the way for additional success. University leadership shared the story of Ottawa’s tremendous growth, which was very well received in the capital markets,” commented Brian Riordan, Managing Director and Head of Ziegler’s Higher Education Finance Practice. “We were excited to partner with such a dynamic team. Bright days ahead for Ottawa!”
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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