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Article: California JCC Borrowing $300M.
- Article from:
- The Bond Buyer
- Article date:
- August 14, 2007
- Author:
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SAN FRANCISCO -- Two deals with a combined par of almost $300 million are to close this week for the financing of a Palo Alto, Calif., campus that will incorporate senior citizen housing, health care services, and a Jewish community center.
The two borrowings consist of variable-rate demand bonds slated to close Thursday.
"It's the largest municipal borrowing by a JCC that I'm aware of," said Joan Annett, managing director at Cain Brothers & Co., the underwriter.
The Albert L. Schultz Jewish Community Center is borrowing $133 million for five buildings that will house JCC facilities, while a nonprofit called 899 Charleston is the borrower for ...