Ziegler Successfully Prices $41.7M Bonds for Pennybyrn Nonprofit Excellence

Ziegler Successfully Prices $41.7M Bonds for Pennybyrn

On September 30, 2025, Ziegler, a prominent investment bank, announced the successful pricing of $41,710,000 Series 2025A Bonds for Maryfield, Inc., known as Pennybyrn. This esteemed organization, a nonprofit corporation incorporated in 1947 by the Congregation of the Poor Servants of the Mother of God, is sponsored by the Roman Catholic Diocese of Charlotte in North Carolina. Located on a sprawling 72-acre campus in High Point, North Carolina, Pennybyrn operates a vibrant life plan community, which includes 222 independent living units, 48 assisted living units, and 125 skilled nursing beds, catering to seniors in various capacities.

The proceeds from the newly issued bonds will serve multiple objectives: they will refund Pennybyrn's Series 2015 Bonds, allocate $3 million towards campus enhancements, fund a debt service reserve, and cover the costs associated with the bond issuance. With a non-rated status, these bonds are part of a financing strategy that extends the maturity of the refunded component. Despite this extension, Pennybyrn anticipates a reduction in their maximum annual debt service by $1.1 million.

The Series 2025 Bonds are structured with a final maturity in 30 years, balanced by an amortization plan that boasts a weighted average of 11.4 years and offers a blended yield to maturity of 4.775%. These aspects collectively enhance Pennybyrn's capital framework, facilitating significant campus investment.

Tad Melton, Managing Director in Ziegler's Senior Living Finance Practice, expressed satisfaction with this accomplishment: "We are extremely pleased with the successful pricing of the Series 2025 Bonds and honored to continue our longstanding relationship with Pennybyrn. This financing not only enhances Pennybyrn's capital structure but also supports meaningful reinvestment into their campus. Pennybyrn's leadership team was thoughtful and strategic throughout the process, and we are proud to support their continued mission of serving seniors with compassion and excellence."

Serving as a leader in underwriter services for nonprofit senior living providers, Ziegler specializes in offering tailored financing solutions. Their spectrum of services extends from investment banking to financial risk management and includes merger and acquisition facilitation, seed capital endeavors, FHA/HUD offerings, and comprehensive capital and strategic planning tailored for senior living. Through dedicated research, education, and communication, Ziegler strengthens seniors' living assistance initiatives across the nation.

Ziegler, recognized as a privately held national boutique investment bank, possesses a unique niche in healthcare, senior living, and educational sectors, along with municipal and structured finance. Headquartered in Chicago, with an expansive network of regional offices, Ziegler continues to deliver capital raising insights, strategic advisory services, fixed income sales and trading, and critical analytics through Ziegler Credit, Surveillance, and Analytics.

For more information, you can visit Ziegler's official website at www.ziegler.com.

Disclaimer: Some comments in this announcement may be forward-looking statements as stipulated under the Private Securities Litigation Reform Act of 1995. The experience of this client does not necessarily reflect the experience of other clients, nor does it guarantee future performance or success. Several risks and uncertainties may influence the forward-looking statements, particularly those relating to the overall financial health of the securities industry, and the healthcare sector's status within the U.S. economy, as well as other factors affecting public offerings.

Conclusion

Ziegler's successful bond pricing for Pennybyrn not only strengthens the nonprofit's financial foundation but illustrates their ongoing commitment to support the senior living sector's growth and sustainability. As they look towards the future, this financing enables Pennybyrn to enhance its service offerings and reassures its dedication to delivering compassionate care to the elderly in North Carolina.