GATES Capital Corporation is pleased to announce that it has successfully closed an $18,274,000 issue for the benefit of the Dominican Village, Inc. (“Dominican Village”). The proceeds of the financing were utilized to currently refund an outstanding bond issue. The refunding bonds were issued through the Town of Babylon L.D. Corporation II and generated significant cash flow savings to Dominican Village.
About Dominican Village:
Dominican Village is a non-sectarian, Independent and Assisted Living Retirement Community located on a 13-acre campus in Amityville, New York. Dominican Village provides housing facility for persons who, because of age, illness or infirmity require additional support services in order to maintain an independent high quality of life and to serve people of limited income or to otherwise provide housing and housing services to people in need. Dominican Village was established in 1993 under the sponsorship of the Sisters of the Order of St. Dominic at Amityville, New York.
For more information, please do not hesitate to contact the following:
Gregory M. LiCalzi, Executive Vice President
David W. Barr, Executive Vice President
Greg LiCalzi, Jr., Vice President
Thomas Culhane, Analyst