Vermont Health Care

Champlain College

$64.6 million 2016 SA Tax-Exempt; $9.4 million 2016 SB Taxable - Closed December 1, 2016

Champlain College issued $64.6 million in 2016 Series A tax-exempt bonds and $9.4 million in 2016 Series B taxable bonds to finance the construction of the Eagles Landing Project (new student dormitory), to refund the College’s outstanding debt and to cover the cost of issuance of the 2016 bonds.

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Middlebury College

2016 Series A Tax-Exempt - Closed August 5, 2016

Middlebury College refunded outstanding debt by issuing $33.1 million in 2016 Series A tax-exempt bonds. The 2016 bonds also covered the cost of issuance.

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University of Vermont Medical Center

2016 Series B Tax-Exempt - Closed July 28, 2016

University of Vermont Medical Center issued $89.0M in 2016 Series B tax-exempt bonds to finance the construction of a new inpatient single room facility and to cover the cost of issuance of the 2016 bonds.

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Northwestern Medical Center

2016 Series A Tax-Exempt - Closed June 1, 2016

Northwestern Medical Center issued $35.0 million of tax-exempt bonds to refund outstanding debt and to fund capital expenditures.

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North Country Hospital

2016 Series A - Closed June 1, 2016

North Country Hospital refunded outstanding debt by issuing $18.74 million in 2016 Series A tax-exempt bonds The 2016 bonds also covered the cost of issuance.

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Brattleboro Memorial Hospital

2016 Series A Tax-Exempt - Closed June 1, 2016

Brattleboro Memorial Hospital issued $10.5 million in tax-exempt bonds to refund outstanding debt ($8.5 million) and to make capital purchases ($2.0 million). The 2016 bonds also covered the cost of issuance.

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Northeastern Vermont Regional Hospital

2016 Series A Bonds - Closed April 1, 2016

Northeastern Vermont Regional Hospital refunded outstanding debt by issuing $12.6 million in 2016 Series A tax-exempt bonds The 2016 bonds also covered the cost of issuance.

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University of Vermont Medical Center

2016 Series A - Closed February 3, 2016

University of Vermont Medical Center issued $176.4M in 2016 Series A tax-exempt bonds to refund outstanding debt; and to cover the cost of issuance of the 2016 bonds.

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Saint Michael’s College

2015 Series A (Green) Bonds - Closed November 10, 2015

Saint Michael’s College issued $18.465 million in 2015 Series A (Green) bonds to fund the construction of new student housing and to pay for the cost of issuance.

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Developmental & Mental Health Services Providers Acquisition Pool

2015 Series A and Series B - Closed August 17, 2015

Developmental & Mental Health Service Providers Acquisition Pool issued $7.22 million in 2015 Series A and Series B bonds to fund new capital projects. refund previously issued debt and to pay for the cost of issuance

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Helen Porter Medical Center

2015 Series A - Closed August 6, 2015

Helen Porter Medical Center issued $15.75 million to refund 2000 Series A Helen Porter Nursing Home Bonds, 2005 Series A Porter Hospital bonds and to pay for the cost of issuance.

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Brattleboro Retreat

2015 Series A and Series B - Closed July 15, 2015

Brattleboro Retreat refunded outstanding debt by issuing $11.2 million in 2015 Series A tax-exempt bonds and $2.9 million in Series B taxable bonds. The 2015 bonds also covered the cost of issuance.

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University of Vermont Medical Center

2015 Series A - Closed January 8, 2015

University of Vermont Medical Center issued $23.84M in 2015 Series A tax-exempt bonds to refund outstanding debt; and to cover the cost of issuance of the 2015 bonds.

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Gifford Medical Center

2014 Series A - Closed December 17, 2014

Gifford Medical Center issued $20.8M in 2014 Series A tax-exempt bonds to refund outstanding debt; renovate hospital facilities; and to cover the cost of issuance of the 2014 bonds.

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Champlain College

2014 Series A & Series B Bonds - Closed July 30, 2014

Champlain College issued $12.5 million in 2014 Series A and Series B tax-exempt bonds to construct 1) The Centers for Communications and Creative Media, 2) alterations to the existing Hauke Center and Alumni Auditorium; 3) fund certain other campus improvements and 4) pay for issuance costs related to the financing.

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Landmark College

2014 Series A & Series B - Closed June 26, 2014

Landmark College issued $17.225 million in 2014 Series A and Series B (tax-exempt) bonds to refund outstanding debt; construct new campus facilities; and to cover the cost of issuance of the 2014 bonds.

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Stratton Mountain School

2014 Series - Closed March 31, 2014

Stratton Mountain School (SMS) issued $7.0M in 2014 Series (tax-exempt) bonds to refund outstanding debt; construct a new student fine arts center and a new aerial training facility; and to cover the cost of issuance of the 2014 bonds.

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Norwich University

2013 Series A - Closed December 23, 2013

Norwich University (Norwich) issued $24.515M in 2013 Series A (tax-exempt) bonds to construct a new student dormitory and to cover the cost of issuance of the 2013-A bonds. Norwich is building the dormitory to reduce overcrowding in existing dorms and to address its growing student body

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Rutland Regional Medical Center

2013 Series A Bonds - Closed September 3, 2013

Rutland Regional Medical Center (RRMC) issued $31.350M in 2013 Series A (tax-exempt) bonds to refund previously issued VEHBFA debt and to cover the cost of issuance of the 2013-A bonds. RRMC expects to save approximately $542,000 in year one and an annual median savings of $400,000 from the refunding due to the lower credit spread of the new bonds

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Champlain College

2013 Series A Bonds - Closed May 29, 2013

Champlain College issued $18.0M in 2013 Series A bonds to construct Butler Hall, a new on-campus dormitory expected to house 91 students. The dormitory is scheduled to open in August of 2014 and is expected to be cash positive in year one of operation. The 2013-A bonds included funds to cover the cost of issuance.

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Fletcher Allen Health Care

2013 Series A Bonds - Closed March 5, 2013

Fletcher Allen Healthcare issued $29.5M in tax-exempt bonds to refund its Series 2000-A bonds. The refunding is expecting to generate an estimated average cash flow savings of $930,000 in each of the first nine years. The cost of issuing the 2013-A bond was included in the financing.

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Northwestern Medical Center

2012 Series A Bonds - Closed December 7, 2012

Northwestern Medical Center (NMC) issued $19.9M in 2013 Series A bonds. The bonds were issued to refund its 2010 Series A bonds ($12.3M); to finance routine capital expenditures ($7.5M); and to pay for the cost of issuance. NMC expected to lower its cost of borrowing by 65 to 80 basis points with the refunding.

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Lake Champlain Waldorf School

2012 Series A Bonds - Closed September 19, 2012

Lake Champlain Waldorf School issued $1.075M in 2013 Series A bonds to finance the purchase of a new high school campus and to cover the cost of issuance.

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St. Michael’s College

2012 Series A Bonds - Closed May 24, 2012

St. Michael’s College issued $46.6M in 2012 Series A bonds to construct a new student center and a new 105 bed residence hall; to refund its existing debt; and to pay for the cost of issuance. The refunding is expected to generate $4.2M in cash flow savings over the life of the bonds.

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Middlebury College

2012 Series A & 2012 Series B - Closed 2012 Series A - Closed April 10, 2012 and 2012 Series B - Closed August 7, 2012

Middlebury College issued $58.5M of tax-exempt bonds to refund its 2002 Series A bonds. The refunding is expected to generate total cash flow savings of $21.0M. The cost of issuing the 2012-A&B bond was included in the financing.

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