Ziegler Closes Series 2020 Bonds For Simpson University
Ziegler, a specialty investment bank, is pleased to announce the successful closing of the Series 2020 Bonds for Simpson University. The non-rated offering was issued through the California Municipal Finance Authority. The proceeds of the bonds will be used primarily to refinance existing debt obligations and finance capital projects and working capital.
CHICAGO, Dec. 18, 2020 /PRNewswire-PRWeb/ -- Ziegler, a specialty investment bank, is pleased to announce the successful closing of the Series 2020 Bonds for Simpson University. The non-rated offering was issued through the California Municipal Finance Authority. The proceeds of the bonds will be used primarily to refinance existing debt obligations and finance capital projects and working capital.
Simpson University ("Simpson" or "the University") is a regionally accredited, private, non-profit, Christian university in Redding, California, affiliated with the Christian and Missionary Alliance. Originally founded in 1921 in Seattle as Simpson Bible Institute, the institution relocated to San Francisco in 1955 and then to Redding in 1989. Initially offering a two-year program of study, the school was designed to promote spiritual growth and prepare students for Christian life and service, especially overseas. Today, over 800 students represent more than 14 Christian denominations and a mix of ethnic backgrounds reflecting almost 50% enrollment from minority populations; students come from 26 states plus 14 foreign countries.
This transaction marked the University's first public bond offering. Dr. Norman Hall, President for Simpson University noted, "The higher education world is certainly not without its challenges. Ziegler continues to help faith-based private institutions illustrate how we impact the lives of our students, staff and communities to the capital markets. Brian Riordan and his team worked with us to map out an appropriate capital structure that will allow for our continued growth. The execution of this financing was a collaborative effort, and we couldn't be more pleased with the results."
Brian Riordan, Managing Director and Head of Ziegler's Higher Education Finance Practice stated, "Ziegler values its new relationship with the Simpson University community. This financing will allow University leadership to continue to implement its strategic plan and further its mission, resulting in additional growth on their campus. We look forward to tracking Simpson's success in the years ahead."
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.
About Ziegler:
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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Media Contact
Christine McCarty, Ziegler, 3126961617, [email protected]
SOURCE Ziegler
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