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Summit at Brighton sims' powerful distribution system delivers low rates description Summit at Brighton (“Summit”) is a life care community located on a 25-acre  opportunity Summit was originally developed in 1997 and financed by a tax-exempt bond issue underwritten by Sims. In December 2005, Sims approached Summit about the economic benefits of maximizing its healthy financial position by advance refunding its long-term bonds to create a more flexible and costeffective capital structure for Summit. implementation Working with Summit, Sims crafted a plan of finance which extended the maturity of Summit’s bonds by five years, taking advantage of a flattened yield curve and creating greater annual cash flow savings. Sims structured the new financing with non-rated fixed rate bonds and revised Summit’s financial covenants, providing it with the financial flexibility it desired. result In June 2006, Sims completed the financing, which included $9,680,000 of fixed rate bonds, with an average 5.39% yield to maturity and a final maturity of 2032. The Series 2006 Bonds provide Summit with:
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