Ziegler Closes $5.29 Million Financing for Coram Deo Academy
Chicago, IL (PRWEB) May 30, 2017 -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of a $5,290,000 Series 2017A&B fixed-rate Bond issue for Coram Deo Academy, Flower Mound, Texas. Coram Deo Academy has been a Ziegler client since 2009.
The school was established in 1999 as a private, non-denominational Christian school operating in multiple locations in the Dallas - Fort Worth area. The school currently operates from three campuses located in Flower Mound, Dallas and Plano, Texas, with total enrollment of approximately 1,200 in grades Pre-K through 12.
In 2009, Ziegler underwrote a $2,500,000 taxable bond issue for the school to pay off a bank loan incurred to purchase the school's first owned campus located in Flower Mound and to fund improvements to the campus. In June 2014, Ziegler underwrote a $8,575,000 bond issue to fund the build out of one of the Plano campuses to accommodate a full PreK-12 grade campus and consolidate the two Plano campuses to one location. The 2014 project included the construction of a 27,800-square foot multi-purpose building with offices, classrooms and a gymnasium/assembly area, and to refund the school's 2009 Bonds to take advantage of lower tax-exempt rates.
The Tax-Exempt Series 2017A and Taxable Series 2017B Bonds were issued by Clifton Higher Education Finance Corporation in order to fund an expansion project at the school's Flower Mound campus. The project will include the construction of an approximately 23,500-square foot multi-purpose building with a gymnasium, classrooms, offices and a central office break room and reception area.
"The project at the Flower Mound Campus enables the school to accommodate growing enrollment while also offering needed onsite recreation amenities. The new facility will enhance the school's ability to pursue its mission of instructing kids in the Dallas - Fort Worth area through a classical education with a Christian worldview. Since 2009, the Board has been pleased to have Ziegler as a valued partner for various financing needs as they have always taken the time to understand our unique requirements and provided customized financing structures at attractive fixed rate levels," stated, Brian Shaw, President & Chairman of the Board of Directors.
"The Flower Mound Campus Project will provide an additional education/gymnasium building that will serve the community. We were able to lock into a long term fixed-rate financing structure for the school and eliminate future interest rate risk," commented, Steve Hron, Director in Ziegler's religion and education finance practice.
Beginning with our very first bond offering in 1913, Ziegler has been a recognized leader and innovator in school finance. We continue that tradition with our dedicated services to the national charter school market. Ziegler provides its charter school clients with capital for financing new construction, refinancing existing debt or acquiring existing school facilities. As one of the few financial services firms in the country with a dedicated team of charter school facility finance professionals, Ziegler provides the market insights and analytical data needed for schools to achieve their strategic vision.
For further information on the structure and use of this issue, please see the Official Statement 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 investment bank, capital markets, wealth management and proprietary investments firm, celebrating its 115th anniversary this year. Ziegler is ranked No. 1 in the country in healthcare/senior living underwriters by issuance and No. 4 by par amount (Thomson Reuters, 2016), and is ranked in the top 20 municipal underwriters in the country by volume (Bloomberg, 2016). Specializing in the healthcare, senior living, education and religion sectors, as well as general
municipal and structured finance enables Ziegler to generate a positive impact on the communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research. 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.
Leslie Weir, Ziegler, http://www.ziegler.com, +1 (312) 596-1646, [email protected]
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