Ziegler recently announced it has closed the $29,845,000 fixed-rate Emerald Heights Series 2013 Bond issue for Eastside Retirement Association, a Washington not-for-profit corporation that owns and operates Emerald Heights, a Type A CCRC in Redmond, Wash.
Emerald Heights is a LeadingAge Washington member.
The Series 2013 Bonds, along with other available funds, are being issued to refund outstanding Series 2003 Bonds, fund a debt service reserve, and pay certain costs of issuance. Concurrent with the financing, Fitch Ratings assigned the borrower an A- investment grade rating with a stable outlook. The Series 2013 Bonds are comprised entirely of A- fixed-rate bonds.
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