Utilizing a relationship stretching back nearly two decades, not-for-profit Adventist Healthcare worked with the team at Ziegler to refinance its outstanding bonds. Issued through the Maryland Health and Higher Educational Facilities, the transaction consisted of $18.725 million in fixed-rate bonds and another fixed-rate bond issue of $48.12 million with a delivery date in October 2021. Proceeds of this financing will be used to current refund the Series 2014A bonds, forward refund the Series 2011A bonds, and pay costs of issuance. Adventist HealthCare, which operates three acute care hospitals, a behavioral/psychiatric hospital, and a rehabilitation hospital, was also able to achieve significant cash flow savings by reducing its cost of capital.
Ziegler Secures Bond Refinance for Adventist Healthcare
