Author: Tabitha Waller

Appalachian Regional Healthcare System Series 2021A Bonds

Pricing Date: March 10, 2021 Closing Date: March 24, 2021 $114,505,000 Series 2021A Bonds Objectives Appalachian Regional Healthcare System (“ARHS”) sought to finance the expansion of its main hospital facility, Watauga Medical Center, which included four new floors, extensive renovations, the construction of a new central energy plant, and other associated projects/site improvements. Challenges Financing … Continued

Grand View Hospital Series 2021 Bonds

Bond Sale Date: February 23, 2021 Closing Date: March 11, 2021 $285,000,000 Series 2021 Bonds Objectives Grand View Hospital (”GVH”) sought to finance a $184 million inpatient pavilion, refinance $98 million of variable rate demand debt and terminate two interest rate swaps. The inpatient pavilion will provide an advanced platform for delivery of more specialized … Continued

New Hanover Regional Medical Center Assets Acquired by Novant Health

Transaction Announcement Ponder & Co. is pleased to announce that Novant Health has acquired the assets of New Hanover Regional Medical Center (“NHRMC”) following a public evaluation process that began in September 2019. The agreement with Novant Health was unanimously recommended by a Partnership Advisory Group (“PAG”) selected to represent the community, medical staff and … Continued

CaroMont Health Series 2021A and 2021B Bonds

Pricing Date: January 20, 2021 Closing Date: February 10, 2021 $40,950,000 Series 2021A Bonds $64,310,000 Series 2021B Bonds Objectives CaroMont Health (“CaroMont”) sought to take advantage of the current low-rate environment to finance construction of a critical care patient tower on their main hospital campus in Gastonia, NC, while leveraging their substantial liquidity position to … Continued

Seattle Children’s Hospital Series 2021 Taxable Bonds

Pricing Date: February 4, 2021 $402,075,000 Series 2021 Taxable Bonds 7 yr Bullet Maturity: 2027 30 yr Bullet Maturity: 2050 Objectives Seattle Children’s Hospital (“SCH”) sought to take advantage of the current low-rate environment to reimburse the organization for the expansion of its main campus through “Building Care” and refund existing debt to generate cash … Continued

Cheyenne Regional Medical Center Series 2021 Bonds

Pricing Date: January 14, 2021 $71,615,000 Series 2021 Bonds Serial Bond Maturities: 2022-2038 Term Bond Maturities: 2042 Objectives Cheyenne Regional Medical Center (“CRMC”) sought to take advantage of the current low-rate environment to refund existing debt to generate cash flow and present value savings. The goal was to achieve the lowest Yield to Maturity possible. … Continued

MaineGeneral Medical Center FHA Bonds

Pricing Date: December 21, 2020 Closing Date: January 13, 2021 $299,371,500 FHA 223(f) Maturity Date: July 6, 2046 Objectives MaineGeneral Medical Center (MGMC) sought to lower the cost of its existing debt and alleviate pressure from its onerous covenants. Its $279 million of existing bonds had an average coupon of 6.90%, with annual debt service … Continued

Huntsville Hospital System Series 2020B

Pricing Date: October 13, 2020 $233,000,000 Series 2020B Bonds Objectives The Huntsville Hospital System (“HHS”) wanted to take advantage of favorable market conditions to bolster its balance sheet, given recent and future project expenditures. In a growing market, HHS is in the process of augmenting its main campus with a new bed tower and parking … Continued

Mercy Health Series 2020 Tax-Exempt Fixed Rate Bonds

Pricing Date: September 29, 2020 $36,900,000 Maturing in 2050 $341,670,000 Maturing in 2053 Objectives In order to take advantage of the current low rate environment and bolster its balance sheet, Mercy Health (“Mercy”) aimed to achieve the lowest yield to maturity through selling as many 3.00% and 4.00% coupon bonds the market would allow. Challenges … Continued

Sharp HealthCare Series 2020AB Bonds

Pricing Date: September 17, 2020 $340,620,000 Series 2020AB Bonds: $40,620,000 Serial Bonds (2020A) $300,000,000 Term Bonds (2020B) Objectives Sharp HealthCare (“Sharp”) sought to take advantage of the current low rate environment to fund new money projects and refund existing debt to generate cash flow and present value savings. Challenges Achieving Index-Eligible pricing given $250 million … Continued