#USA #Chicago #Ziegler #Givens Group #Series Bonds

Ziegler Successfully Prices Series 2026 Bonds for Givens Obligated Group

On October 30, 2026, Ziegler announced a significant financing success with the pricing of $90 million in Series 2026 Bonds for the Givens Obligated Group. This marks a crucial step in the organization’s ongoing investments and improvements in senior living facilities.

The Givens Obligated Group is dedicated to providing quality care and has established two Continuing Care Retirement Communities (CCRC) that collectively feature 966 residences. The Givens Estates Community, based in Asheville, North Carolina, has been operational since 1979, offering 478 independent living, 42 assisted living, and 60 skilled nursing residences. Similarly, the Givens Highland Farms Community, located in Black Mountain, North Carolina, has operated since 1971 and currently provides 331 independent living and 55 skilled nursing residences. Both communities boast accreditation from the Commission on Accreditation of Rehabilitation Facilities (CARF), guaranteeing a high standard of service and care.

The proceeds from the Series 2026 Bonds are set to be utilized for multiple strategic initiatives:
1. The creation of 63 new independent living residences at the Givens Highland Farms Community.
2. The acquisition of a newly purchased building designated for corporate office use.
3. Funding of about $45.3 million aimed at covering pre-development costs and the early stages of construction for planned residences and health service renovations.
4. Covering transaction costs associated with the bond issuance.

Fitch Ratings assigned the Series 2026 Bonds an ‘A-’ rating with a negative outlook, a testament to the meticulous financial management exhibited by the Givens Obligated Group. These bonds, issued through the North Carolina Medical Care Commission, feature a 35-year final maturity and a wrapped debt service structure that results in a weighted average maturity of 26.04 years, along with a blended yield to maturity of 5.69%. Ziegler introduced competitive call provisions, allowing options for repayment that enhance financial flexibility down the line.

Tommy Brewer, Managing Director at Ziegler’s Senior Living Finance Practice, expressed pride in the collaborative efforts with Givens. He remarked, “We are proud and honored to work with Givens. Through strong leadership, thoughtful planning, and close collaboration, Givens successfully navigated a volatile market to achieve a successful financing outcome. We look forward to continuing to work with Givens as they seek to advance their vision and goals.” This partnership not only showcases Ziegler's expertise but also their commitment to advancing the strategies of senior living organizations across the nation.

Ziegler stands out as a leading investment banking underwriter specializing in financing solutions tailored for non-profit senior living providers. Their comprehensive range of services includes investment banking, financial risk management, and strategic planning suited to the unique needs of the senior living sector.

For further information on Ziegler and its services, visit Ziegler’s website.

In conclusion, the successful pricing of these bonds reflects a proactive approach to enhance Givens’ facilities, thereby supporting its mission to deliver superior care and services to its residents. As the organization embarks on new developments, the blend of careful planning and strategic financing positions them well for future growth and continued excellence in senior living.