FOR IMMEDIATE RELEASE
JANUARY 17, 2017
CONTACT: Tara Perkins, PR & Marketing Specialist | 203-418-9049 | firstname.lastname@example.org
HJ Sims Finances over $100 Million for Campus Relocation for Provider of Specialized Services to Individuals with Disabilities
FAIRFIELD, CT– HJ Sims, a privately held investment bank and broker-dealer founded in 1935 on Wall Street and celebrating more than 80 years of service, is pleased to announce the financing of Bancroft Neurohealth, a leading not-for-profit provider of specialized services to individuals with intellectual or developmental disabilities, autism and acquired brain injuries.
“Working with Jim Bodine and HJ Sims through this monumental project for our century-old organization was an excellent experience. At Bancroft, we had never been involved in a deal of this magnitude or complexity so knew we needed a strong financial advisor. Jim and his team guided us through step-by-step, never wavering from a calm, steady pace that led us to an exciting and successful transaction. Grateful to have selected Jim and HJ Sims for our project team,” said Toni Pergolin, President and CEO, Bancroft.
HJ Sims was engaged by Bancroft to structure and implement financing for the relocation of its main campus in Haddonfield, NJ to a new 80-acre campus in nearby Mt. Laurel, NJ. Multiple issues were successfully addressed in the financing preparation process, including Bancroft’s specialized range of services with multiple sources of revenue; a substantial financing need for both new capital and refinancing; consideration of bank and bond financing; and evaluating conduit issuer options for the financing. Bancroft ultimately elected bond financing using two issuing authorities, combining the new project financing and refinancing of existing debt, to save construction costs and interest rates.
Sims effectively positioned Bancroft through a detailed financial forecasting process, extensive due diligence and comprehensive information disclosure. Sims refinanced the existing bank debt, expanded Bancroft’s line of credit and underwrote $104,155,000 of bonds which Sims sold to institutional and individual investors.
“Sims is proud to provide a Financed Right® solution to support this innovative treatment and residential center that will bring state-of-the-art care to those suffering from brain injury,” explains Jim Bodine, Executive Vice President, HJ Sims.
For more about HJ Sims and how we can offer you Financed Right® solutions, please contact Jim Bodine at email@example.com | 215-854-6428.
ABOUT HJ SIMS: Founded in 1935 on Wall Street, HJ Sims is celebrating more than 80 years of service as a privately held investment bank and broker-dealer with $2.2 billion of assets under management. HJ Sims is known as one of the country’s oldest underwriters of tax-exempt and taxable bonds, having raised $22 billion for projects throughout the US. The firm is headquartered in Fairfield, Connecticut, with investment banking, private client wealth management and trading offices in Maryland, Massachusetts, Florida, Minnesota, New Jersey, Pennsylvania, Texas and Puerto Rico. Pershing LLC, a subsidiary of The Bank of New York Mellon Corporation, is custodian of all client assets. HJ Sims is not affiliated with Bancroft. For more information, please visit: www.hjsims.com/ourstory. Investments involve risk, including the possible fluctuation of principal. Member FINRA, SIPC. Follow HJ Sims on Facebook, Twitter and LinkedIn.
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