Stahl Cowen Partner Robert Mintz Closes on $32.5 Million Bond Transaction for Senior Facility08/22/2016
Robert Mintz, chair of Stahl Cowen’s Business Transactions Practice Group, successfully closed on a $32,500,000 variable rate revenue refunding bond on behalf of client FirstMerit Bank, N.A., which merged into Huntington Bank on the day before closing! FirstMerit Bank (now Huntington Bank) had been a long time financial supporter of the Washington and Jane Smith Community—Beverly Center, which offers both independent living and assisted care facilities located in Chicago, Illinois. In order to refinance existing variable rate non-bank qualified bonds, as well as provide funds to enhance the Center, FirstMerit joined forces with First Midwest Bank to purchase bonds issued by the Illinois Finance Authority, under the leadership of Christopher Meister. Rob worked with his team of Stahl Cowen colleagues including Tim Fitzgerald and Alexandria Seydel to close the bond deal in record time of under one month. Rob and the Firm frequently work with lenders on bond transactions of this type, as well as on traditional business lending projects to structure, negotiate, document and efficiently close asset-based loans, commercial mortgage loans, term loans and mezzanine loans. Another deal done!