The Series 2026 tax-exempt bonds allow the Louisiana-based non-profit to refund its outstanding 2015A debt, a strategic pivot expected to generate $337,000 in annual savings. Fitch Ratings assigned a BB+ stable rating to the issuance, providing the market confidence necessary to lock in the fixed-rate structure. Beyond debt restructuring, the proceeds will reimburse previous capital expenditures and solidify the organization's reserve funds.
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St. James Place Secures $51.7 Million Refinancing Deal
Baton Rouge’s only continuing care retirement community has successfully finalized a $51,765,000 bond issuance, a move designed to restructure debt and lower annual service costs. The deal, orchestrated by investment bank Ziegler, secures the financial footing of the 49-acre campus through 2045.
St. James Place, which first opened its doors in 1983 near Louisiana State University, operates a comprehensive range of facilities including independent living, assisted living, memory care, and skilled nursing units. Dick Wager, President and CEO of St. James Place, credited the firm’s successful market entry to the guidance of Ziegler’s senior managing director, Rich Scanlon. The partnership continues a long-standing relationship between the two entities, with Ziegler maintaining its position as a primary financier for non-profit senior living providers nationwide.
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