Presbyterian Homes of South Carolina is using a $66 million tax-exempt bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to build new facilities and retire previous bonds for expansion at its continuing care retirement communities across the Palmetto State.
The four separate issues of Series 2016 Economic Development Revenue Bonds will be used to build a new replacement 88-bed skilled nursing center and 18 independent living apartments and related amenities at The Village at Summerville, 12 independent living apartments and related amenities at The Foothills Community in Easley, and retire debt for capital improvements at its facilities in Lexington, Clinton and Florence.
— Ashley Taylor, Chief Financial Officer for Presbyterian Communities of South Carolina
“We’re pleased to help this provider of essential living and care options find the best possible financing avenues to continue and advance its work,” said Mitchell Johnson, Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Charleston.
“Continuing care retirement communities are of paramount importance to our aging population. JEDA is pleased to assist in these financings,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.