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LEWES, Del. — HJ Sims, a Connecticut-based investment bank and broker-dealer, has arranged $17.6 million in bonds for Cadbury at Lewes, a continuing care retirement community in the coastal town of Lewes.
Cadbury Senior Lifestyles, a New Jersey-based nonprofit operator, manages the community, which was built in 2007.
The bonds will be used to refinance existing bonds, also arranged by HJ Sims, from the community’s construction in 2006. The new financing will generate annual debt service savings of approximately $200,000.