Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $38,510,000 Series 2021AB Bonds for LaGrange College. The bonds are issued through the Development Authority of LaGrange and are non-rated. Bond proceeds will be used primarily to refinance a privately placed bank loan and finance capital projects.
Founded in 1831 and affiliated with the United Methodist Church, LaGrange is the oldest private college in Georgia, originally chartered as LaGrange Female Academy. It began awarding collegiate degrees in 1847. The institution became LaGrange College in 1935 and co-educational in 1953.
Today, LaGrange is a four-year liberal arts and sciences college offering more than 50 academic programs — reaching from biochemistry to business, mathematics to musical theatre — and providing graduate degrees in education and clinical mental health counseling. Global Engagement is an important part of a LaGrange education with almost 70% of its students studying abroad. The College is consistently ranked in the top 10 (#10 in 2022) among Southern Regional Colleges by U.S. News & World Report and has twice been recently named a “best value” by the magazine.
This is the first time the College has accessed the public capital markets. “We are thrilled with the results of this financing,” stated LaGrange President Susanna Baxter. “After a thorough review of available financing options and structures, the Ziegler team helped guide us into and navigate the public capital markets. Our bond issue will provide the financing foundation for the College to execute its growth and operating strategies.”
“It was an absolute pleasure working with President Baxter, Deborah Hall and the entire LaGrange College financing team. LaGrange College is a magnificent institution, the College’s growth trajectory is evident, and we are excited to have partnered with its leadership team. This successful transaction was the culmination of a thoughtful, collaborative effort by many individuals — all of whom had a singular goal ”— helping to advance the future of LaGrange College. We look forward to charting its success,” commented Brad Garrett, Director with Ziegler’s Higher Education Finance Practice.
Ziegler is a leading bond underwriter for 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.
Source : https://www.prweb.com/releases/ziegler_closes_38_5_million_financing_for_lagrange_college/prweb18477899.htm
