Lourdes Senior Community Closes $32.5M Bond Financing With Ziegler, WesBanco
Chicago – October 01, 2026 -- Ziegler, a specialty investment bank, has closed a $32,453,000 Series 2026 financing for Lourdes Senior Community, a single-site not-for-profit senior living provider in Waterford, Michigan.
Bond structure splits refunding and new construction debt
The financing comprises $14,453,000 in Series 2026A Refunding Revenue Bonds and $18,000,000 in Series 2026B Bank Draw Down Bonds. Proceeds will refinance Lourdes' outstanding Series 2019 Bonds and fund construction of a new 60-unit independent living building.
WesBanco takes direct placement with full interest-rate swap
The Series 2026 Bonds were structured as a tax-exempt direct placement with WesBanco, including a 100% swap. The deal carries a 10-year bank credit commitment period through September 1, 2026, with final maturity set for September 1, 2046. Ziegler served as both placement agent and swap advisor on the transaction.