INVESTMENT BANKING

Ziegler has achieved a unique position within the healthcare sector due to our ability to implement financing solutions that incorporate a variety of financial tools to meet our client’s needs. Our firm has developed a suite of innovative products and services that accommodate the most complex financings for virtually every type of for-profit and non-profit hospital and healthcare organization.

We value relationships. At Ziegler our primary goal is to build and maintain a strong and trusted relationship with each client based on the delivery of services, which go beyond the financing itself, and enables clients to meet their goals. The effectiveness of our team is evident in our plan of finance that pursues the lowest cost of capital, regardless of the market movements and a trusted advisor relationship that extends beyond the financing.

Capital Finance.
We can help you obtain cost-effective financing solutions for the renovation, expansion, or replacement of existing facilities, as well as restructuring or refunding existing indebtedness.

Credit Enhancement.
We are versed in all forms of credit enhancement, which include bank letters of credit, bond insurance, FHA insurance or using the strength of a sister organization in order to provide the credit necessary to complete a complicated transaction.

Credit Structures & Instruments.
Our breadth of experience in healthcare financing has enabled us to develop a variety of innovative credit structures to successful execute even the most complex financings.

OUR PRODUCTS 

Tax-Exempt & Taxable Bonds 
 

Tax-Exempt Bonds. Our primary focus is on funding capital projects for non-profit healthcare organizations that are able to utilize tax-exempt debt. Since 1990, Ziegler has brought to market approximately $11.9 billion of tax-exempt bond issues for hospital and health systems.

Taxable Bonds. We secure capital funding for projects of non-profit healthcare organizations, which will not qualify for the use of tax-exempt debt, as well as for-profit healthcare organizations through taxable public offerings or private placements. Since 1990, Ziegler has brought to market approximately $182 million of taxable bond issues for hospital and health systems.

Rated & Non-Rated Bonds
 

Rated Fixed-Rate Bonds. Ziegler actively represents its clients as they interface with the credit rating agencies. We work collaboratively with the client to prepare the preliminary credit package distributed to the rating agencies in addition to the formal rating presentation delivered to the analysts who cover the healthcare organization. It is imperative that a well-positioned credit story that highlights the unique characteristics of the borrower is presented to the rating agencies in order to obtain the highest possible rating.

We utilize our sizable sales force to canvas all potential investors that include retail, bond funds, asset managers, hedge funds and other institutional investors to ensure the broadest distribution while ensuring a competitive pricing for our clients.

Non-Rated Fixed-Rate Bonds. A unique advantage of Ziegler is its expertise in issuing non-rated fixed rate debt. These financings are often overlooked by large Wall Street firms and regional institutions due to the complexity of the financing or the lack of an established distribution channel for the debt being offered. Ziegler is known as a leading underwriter for non-rated offerings and is well respected by investors for being able to present a credible capital plan and credit story to achieve a successful closing for these challenging situations.

Credit Enhancement 

Credit Enhancement. Ziegler is well versed with all forms of credit enhancement including bank letters of credit, standby purchase agreements, bond insurance and FHA insurance. Our comparative analyses regarding credit enhancement examines the following: 

• Organizational Goals
• Cost Analysis
• Document Flexibility
• Prepayment Provisions
• Amortization Periods
• Covenant Restrictions

For more information about Ziegler’s healthcare investment banking practice, please contact one of our experienced team members.