Ziegler Closes $7 Million Financing for Total Longterm Care, Inc.
December 12 2011 - 6:08PM
Marketwired
Ziegler, a specialty investment bank, is pleased to announce the
successful closing of a $7,000,000 fixed-rate tax-exempt bond issue
for Total Longterm Care, Inc. (TLC). TLC was formed in December
1989 to establish Colorado's first Program of All-inclusive Care
for the Elderly (PACE). TLC began its PACE operations with one
location in Denver and has grown to five centers serving the entire
Denver metro area in the following locations: Capitol Center (in
Denver), which TLC management expects to replace with the Broadway
Center (in Denver), Cody Center (in Lakewood), Chambers Center (in
Aurora), Pinnacle Center (in Thornton), and Pueblo Center (in
Pueblo) (collectively, the TLC Centers). The newest PACE location
will be in San Bernardino, California, where land and existing
buildings were just purchased.
Today, TLC has more than 1,800 participants across its five
Centers. TLC is part of a family of companies, including a parent
organization known as Total Community Options; affiliates provide
PACE care and support services including fundraising, a PACE center
in New Mexico, and an affordable housing community in Colorado. TLC
is rated "BBB-" by Fitch Ratings.
PACE is an innovative system of care designed to meet the needs
of nursing home-eligible individuals. PACE providers help these
individuals stay in their homes and communities, rather than enter
nursing homes, by combining medical care, community-based home and
healthcare services, and day care programs.
The Series 2011 Bonds are being issued to: 1) finance the
acquisition, construction, equipping and improvement of the
Broadway Center, which will replace the leased Capitol Center; 2)
fund a debt service reserve fund; and 3) pay certain expenses
incurred in connection with the issuance of the Series 2011
Bonds.
As one of the nation's leading underwriters of financing for
non-profit senior living providers Ziegler offers investment
banking, financial risk management, merger and acquisition
services, investment management, seed capital, FHA/HUD, capital and
strategic planning as well as senior living research, education,
and communication. Mary Muñoz, Managing Director in Ziegler's
Senior Living practice, commented, "Total Longterm Care's
leadership has proven highly adept at managing the
service-intensive, capitated PACE business. We view PACE as a
prototype for true person-centric care, a foundation for effective
healthcare delivery. We could not be more pleased to be working
with Total Longterm Care to further its PACE mission and to support
the growth of PACE nationally."
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
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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