Author: Tabitha Waller

Emory University Series 2020A & 2020B

Bond Sale Date: May 13 & 20, 2020 $943,750,000 Series 2020A Taxable Fixed Rate Bonds $486,470,000 Series 2020B Tax-Exempt Fixed Rate Bonds About Emory University Emory University (“Emory”) is a privately endowed national teaching, medical and research center located in Atlanta, Georgia. Emory attracts top quality students from across the nation and abroad, and had … Continued

Omaha Children’s Hospital & Medical Center Series 2020A & 2020B

Bond Sale Date: May 12, 2020 $72,855,000 Series 2020A Tax-Exempt Fixed Rate Bonds $26,470,000 Series 2020B Tax-Exempt Mandatory Put Bonds About Children’s Hospital & Medical Center Children’s Hospital & Medical Center (“Children’s”) is the only full-service pediatric health center in Nebraska. It has 145 licensed beds, 136 of which are currently staffed, and is home … Continued

Swap Strategies to Bolster Liquidity

With long-term swap rates at historic lows, health systems with sizable fixed payer swap portfolios may now be required to post substantial amounts of collateral. Combined with other liquidity draws (in particular equity portfolio losses and operating pressure due to the COVID crisis and loss of electives), the requirement to post collateral poses a potentially … Continued

University Health System Series 2020A Tax-Exempt Fixed Rate Bonds

Bond Sale Date: May 5, 2020 $72,805,000 Series 2020A Tax-Exempt Fixed Rate Bonds About University Health System University Health System (“UHS”) is a not-for-profit Tennessee corporation created in 1998 to operate the University of Tennessee Medical Center (“UTMC”) as an entity independent of the University of Tennessee. UTMC is the Knoxville, TN region’s only academic … Continued

Peninsula Regional Series 2020A Fixed Rate Bonds

Bond Sale Date: April 28, 2020 $95,995,000 Series 2020A Fixed Rate Bonds About Peninsula Regional Health System Peninsula Regional Health System, Inc. (“PRHS”) is the largest and most dominant healthcare delivery system in the southern Maryland, southern Delaware and northern Virginia portions of the Delaware-Maryland-Virginia Peninsula (known as the “Delmarva Peninsula”).  PRHS owns and operates … Continued

COVID Impact on Hospitals and Health Systems

Not-for-profit hospitals and health systems could experience a drop in their liquidity of 40-to-60 days cash on hand due to COVID-19’s two-front war of significant declines in volume, combined with the steep equity market decline, including the Dow’s worst first-quarter performance ever. On January 20, 2020, the first positive case of coronavirus was confirmed by … Continued

Bon Secour Mercy Health Series 2020, 2020A, and 2020B Bonds

Bond Sale Date: April 8, 2020 $1,160,995,000 Series 2020 Bonds, consisting of: $389,680,000 Series 2020 Taxable Fixed Rate Bonds $683,895,000 Series 2020A Tax-Exempt Fixed Rate Bonds $87,380,000 Series 2020B Tax-Exempt Fixed Rate Put Bonds About Bon Secour Mercy Health Bon Secours Mercy Health, Inc. (“BSMH”) is the nation’s fifth largest Catholic nonprofit healthcare system, providing … Continued

Hospital M&A in the Age of Coronavirus

By: Lisa Phillips with contributions from Chris Schoeplein (Levin Associates online) Hospitals have always been a prime target in the healthcare services market. Suddenly the novel coronavirus pandemic has thrust them squarely into the national conversation. While the attention is warranted, it hasn’t been completely positive regarding a shortage of intensive care beds and personal … Continued

Hospital M&A May Spike, Sector Advisors Say

By: Claire Rychlewski with analytics by Melody Ren in Chicago and contributions from Eb LeMaster (Mergermarket) Community hospitals that have fought to stay independent may be ripe takeover targets later this year as health systems assess coronavirus-related trauma, several sector advisors said. Hospital M&A has been robust in recent years, driven less by financial stress … Continued

Washington University Series 2020A Taxable Fixed Rate Bonds

Bond Sale Date: March 26, 2020 $450,000,000 Series 2020A Taxable Fixed Rate Bonds About Washington University The Washington University (“Wash U”) is a private research university in St. Louis, MO founded in 1853. Wash U is comprised of seven schools and has over 15,000 FTE enrollment, with students from all 50 states and more than … Continued