St. John's United secures $191.5M bond financing led by Ziegler
What's the deal? St. John's Lutheran Ministries, operating as St. John's United, has closed a $191.5 million bond financing arranged by specialty investment bank Ziegler through the Montana Facility Finance Authority. The Series 2026ABC Bonds are scheduled to close this month.
What does the company do? St. John's United owns a multi-campus senior living system in the Billings and Laurel markets of Montana. Its five communities total 201 independent living units, 140 assisted living units, 72 memory care units, and 88 skilled nursing beds.
What's the money for? The financing will fund an expansion at the main St. John's United campus and new independent living buildings at the WyndStone campus. Funds will also refinance existing debt and enable a payment to SCL Health – Montana tied to its withdrawal as a member of Missions United.
The signal: Large tax-exempt bond deals remain a core funding route for senior living operators pursuing expansion and debt refinancing in a single transaction.
Read more: Seniors Housing Business
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