Lutheran Homes Society Bank Financing

November 30, 2015

Cain Brothers served as the sole investment banking advisor for the issuance of $40,623,994 Series 2015 Direct Bank Purchase Bonds for Lutheran Homes Society (“LHS”).

LHS, an Ohio not-for-profit corporation, was founded in 1860.  For 155 years, LHS has been serving the unique needs of youth and the elderly in northwest Ohio and southeast Michigan. LHS operates four elderly care communities and twelve market rate independent living /assisted living units, which offer varying levels of nursing care for seniors who need assistance with the tasks of daily living. In addition to these elderly care services, LHS operates three group homes that provide community-based residential care and treatment to high-risk youth.

The Series 2015 Direct Purchase Financing consists of $39.3 million of tax-exempt bonds and $1.4 million of taxable bonds. Cain Brothers also assisted LHS in entering into a floating-to-fixed pay interest rate swap, which effectively hedges the variable interest rate on the tax-exempt series of bonds. The proceeds of the Series 2015 Bonds were used primarily to refinance the Series 2010 Bonds and fund several renovation and small acquisition projects. Taking advantage of the currently low interest rate market enabled LHS to realize substantial debt service savings.

For more information, please contact:

Matthew Goldreich

Managing Director
(212) 981-6946
mgoldreich@cainbrothers.com