RICHMOND, Va., April 24, 2012 /PRNewswire/ -- BB&T Capital Markets served as senior managing underwriter on behalf of Longhorn Village for its debt refinancing, valued at more than $112 million.
The transaction consisted of adjustable and fixed-rate tax-exempt and taxable fixed-rate bonds enabling Longhorn Village to refinance its outstanding debt and provide additional working capital. Brandon Powell and Rick Lohr led the BB&T team.
Longhorn Village, based in Austin, Texas, is a non-profit continuing care retirement community that is sponsored by The Ex-Students' Association of the University of Texas. The community provides housing and health care related services to the elderly, offering an environment for continued learning, wellness, friendship, and a sense of community.
The transaction closed on March 29.
About BB&T Capital Markets
BB&T Capital Markets provides a full-spectrum of capital and advisory solutions including M&A advisory, equity and debt underwriting, sales and trading, research, corporate banking and syndicated finance. More information about BB&T Capital Markets is available at http://www.bbtcapitalmarkets.com.
BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $174.8 billion in assets and market capitalization of $21.9 billion, as of March 31, 2012. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
This news release is neither an offer to sell nor a solicitation of an offer to buy any securities.
BB&T Capital Markets is a division of Scott & Stringfellow LLC, member NYSE/FINRA/SIPC. Scott & Stringfellow is a wholly-owned nonbank subsidiary of BB&T Corporation (NYSE: BBT). Not a deposit, not FDIC insured, not guaranteed by the bank, not insured by any federal government agency and may go down in value.
SOURCE BB&T Corporation