In April of 2020, we redeemed $70,000,000 of tax-exempt bonds, originally issued by the Diocese in 2010 at higher interest rates.  We replaced them with two new bond issuances at much lower interest rates and also entered into a line of credit in a new banking relationship.  We used Julius Capital and Immaculata Law Firm to represent us in these transactions.  

Julius Capital provided analytical tools and knowledge of the capital markets that helped us develop creative solutions to meet our needs, now and into the future.  

ImmacuLaw served as bond counsel for our bond transactions, including secured and unsecured general obligation bonds, and tax-exempt school bonds. ImmacuLaw worked with us to create flexible bond financing that can be used to raise additional capital in the future when needed by facilitating planned giving and balance sheet philanthropy.   Working with new bankers and their attorneys in an uncertain and unpredictable financial market created by a pandemic was no easy feat.  Despite these obstacles, Michael Schierl and his team brought the financial and legal expertise to close these transactions on schedule and on budget.  Their knowledge of financing structures, contractual law, canon law and practical understanding of how the church operates were indispensable.  

We are very grateful for their expertise and assistance in completing these transactions, particularly during these turbulent market conditions.  Julius Capital and ImmacuLaw were easy to work with, thorough and responsive.  They will be our first call when contemplating creative financial solutions as our needs change and I would recommend them to any of my fellow Fiscal Officers