Foley Serves as Bond Counsel in $37 Million Bond Issuance for Los Angeles Jewish Home for the Aging

26 October 2020 Media Contact: Jill Chanen News

Foley & Lardner served as bond counsel in connection with the public issuance of $37, 275,000 of taxable fixed rate revenue bonds on behalf of the Los Angeles Jewish Home for the Aging. 

The Series 2020A Bonds was the third of three refunding financings completed for the LA Jewish Home over the past eighteen months. Foley served as bond counsel on all three.  The Series 2020A Bonds were used to advance refund LA Jewish Home’s outstanding Series 2014A bonds. Because the Series 2014A Bonds were not yet callable, taxable bonds were the only available source to advance refund the prior issue, and due to historically low taxable interest rates, the refunding still resulted in meaningful savings to the LA Jewish Home. 

On a combined basis, the three refundings significantly lowered the Home’s overall annual debt service obligation.   

The Bonds are insured by Cal-Mortgage and have been assigned a rating of “AA-” by S&P.  

Partner Mark Schieble led the Foley team. 

Related Services

Insights

Top Five New Telehealth Policies in Medicare 2021 in Physician Fee Schedule
02 December 2020
Health Care Law Today
IMMEX Highlights – Sub-maquila Operations
02 December 2020
Dashboard Insights
Podcast Episode 24: Steve Cade, Partner
01 December 2020
Foley Career Perspectives
European Data Protection Board Issues Recommendations for Exports of Personal Data From the European Economic Area
01 December 2020
Privacy, Cybersecurity & Technology Law Perspectives
HCCA San Francisco Regional Conference
04 December 2020
Virtual Conference
Webinar: Massachusetts Paid Family and Medical Leave 2021
02 December 2020
Webinar
CTeL Digital Health Summit 2020
01-04 December 2020
Virtual Conference
Virtual CLE Week
Every Tuesday & Thursday from December 1 - 17 2020
Webinar