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Essex Capital Arranges $91.3MM Taxable Bond Issue

January 07, 2021, 06:00 AM
Filed Under: Industry News

Essex Capital Group announced that the firm recently served as exclusive financial advisor to CAN Community Health, Inc., resulting in a financial restructuring of the Company through a $91,350,000 taxable bond issue. CAN is a private, not-for-profit organization operating 34 clinics that serve the medical, dental, psychological and counseling needs of patients living with HIV, hepatitis C, STDs and other diseases.

Proceeds from the bond issue were used to finance the acquisition of a strategic partner as well as refinance the Company's balance sheet, extending debt amortization and resulting in significant yearly debt service savings.
Richard E. Carlisle, CAN CEO commented, “CAN was recently presented with the chance to further expand its mission in South Florida through an acquisition opportunity. We decided to engage our financial advisor, Essex Capital, to help strategize the financing for the deal. At the closing, CAN not only was able to pay for the acquisition, but we also refinanced our balance sheet in a taxable bond offering that extended our debt maturities and saved the company millions of dollars in annual debt service. This transaction was the 5th financing that the firm has arranged for CAN in the last 3 years, and we very much appreciate the valuable partnership we’ve formed with Essex Capital.”

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