Vanderbilt University Medical Center Series 2017A Tax-Exempt & 2017 Taxable Bonds
VUMC, a TN nonprofit, 501(c)3 corporation, is the largest comprehensive research, teaching, and patient care health system in Tennessee with 1,025 licensed beds and over $3.5 billion in annual revenues.
On April 30, 2016 Vanderbilt University transferred the clinical operations, post graduate training programs, and clinical department research activities to VUMC as its own separate entity. VUMC is the sole member of the obligated group and VU is not financially responsible for VUMC indebtedness. VUMC maintains an ongoing academic affiliation with VU.
Plan of Finance
Series 2017 Bonds will finance capital projects for the expansion of beds at the flagship adult hospital and expand ambulatory facilities in the surrounding metropolitan area. VUMC also plans to restructure the Series 2016C R-FLOATs into a 7-year bank loan and extend the tenor and lower pricing of certain portions of the Series 2016E & F bank loans for an estimated savings of $2M annually.Download Full Article