Northwestern Medical Center

Bond Series: 2012 Series A Bonds

Closed: December 7, 2012

Bond Size: $19,900,000

Credit Rating: Not Rated

Credit Enhancement: None

Purchaser: TD Bank, N.A.

Interest Rate: Variable Rate, Tax-Exempt

Final Maturity: 2032

Yield: Variable Rate

Purpose: i) Refund the Medical Center’s outstanding $12.3 million Series 2010-A bonds; ii) finance approximately $7.5 million of routine capital expenditures; and iii) Pay for issuance costs related to the financing.

Project Benefit: The refund is expected to lower the Medical Center’s cost of borrowing by 65 to 80 basis points as compared to the refunded bonds. It will also help to support the continuing need to adequately maintain the physical plant and equipment necessary to provide health care services to NMC’s community.

Economic Benefits: N/A