Ziegler Closes $38 Million Bay Area Charter Financing
December 07 2011 - 10:52AM
Marketwired
Ziegler, a specialty investment banking firm with over a 100 years
of experience, is pleased to announce the successful closing of the
$38 million Bay Area Charter Foundation, LLC financing. This is the
first bond issue for this borrower and the third bond issue Ziegler
has underwritten for schools managed by Charter Schools USA.
Bay Area Charter Foundation, LLC is a Florida 501(c)(3) that
holds charters for two charter schools in the greater Tampa,
Florida area. Both schools (Woodmont Charter School and Winthrop
Charter School) opened in August 2011 and are managed by Charter
Schools USA, a for-profit EMO based in Fort Lauderdale,
Florida.
The current financing will refinance bridge loans that funded
acquisition and construction costs for the two school facilities,
as well as provide funding for an expansion at the Winthrop
facility. Upon completion of the Winthrop expansion in fall 2012,
the two schools will have a combined capacity of approximately
2,380 students in grades K-8.
With Ziegler's expertise in charter school financing and our
extensive capital markets capabilities, these combined efforts
resulted in the successful placement of all bonds that met the
borrower's structural and timing constraints. Michael Braun, Senior
Vice President in Ziegler's Religion & Education practice,
stated, "This financing fulfilled a long-term goal of Charter
Schools USA (CSUSA) to open a charter school in the Hillsborough
County area. These schools will benefit the community by expanding
school choice options with CSUSA's viable and proven curriculum
while also creating a positive learning environment for the
students."
For further information on the structure and use of this issue,
please see the Electronic Municipal Market Access system's Document
Archive:
http://emma.msrb.org/SecurityView/SecurityDetails.aspx?cusip=A0C4C11167337732398CA7ED53DE7BF0A.
For more information about Ziegler and please visit us at
www.Ziegler.com.
About Ziegler: The Ziegler Companies, Inc.
(PINKSHEETS: ZGCO) together with its affiliates (Ziegler) is a
specialty investment bank with unique expertise in complex credit
structures and advisory services. Nationally, Ziegler is ranked as
one of the leading investment banking firms in its specialty
sectors of healthcare, senior living, religion and education
finance, as well as corporate finance and FHA/HUD. Headquartered in
Chicago, IL with regional and branch offices throughout the U.S.,
Ziegler creates tailored financial solutions including bond
financing, advisory, private placement, seed capital, M&A, risk
and asset management. Ziegler serves institutional and individual
investors through its wealth management and capital markets
distribution channels.
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.
This communication does not constitute an offer to buy these
securities. The offering is made only by the Official Statement and
through an appropriately registered representative. The Series 2011
Bonds may not be appropriate for all investors. Market value and/or
accrued interest will fluctuate during the period held, and, if
sold prior to maturity, the yield received may be more or less than
the yield calculated at the time of purchase. Discounted yields
herein are gross yields to maturity. Discounted bonds may be
subject to capital gains tax, rates of which will vary, so
investors should consult their own tax advisor with regard to their
personal tax situation. Interest on municipal bonds may be exempt
from federal income tax but may be subject to tax for residents of
certain states. For bonds designated AMT, taxes may exist for
certain investors. Ziegler will sell these bonds on a principal
basis.
The corporation or its officers, directors, stockholders, or
members of their families may at times have a position in the
securities mentioned herein and may make purchases or sales of
these securities. Not all call or put information is identified in
the description above. Please be sure to discuss any special
features with your Financial Advisor before deciding whether to
invest in these securities.
Christine McCarty 312 596 1617 Email Contact
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