Bond Series: 2016 Series A Tax-Exempt
Closed: June 1, 2016
Bond Size: $35.0 million
Credit Rating: Not Rated
Credit Enhancement: None
Purchaser: Peoples United Muni Finance
Interest Rate: 2.502%
Final Maturity: 2036
Purpose: The bonds will be used to: i) refund Northwestern Medical Center’s outstanding 2012-A bonds ($17,334,575); ii) fund capital expenditures ($17,429,519); and iii) pay for issuance costs related to the financing ($235,906).
Project Benefit: NMC will realize economic savings from the refunding. The new money component of the financing will allow the Center to convert semi-private rooms to private rooms, renovate the reception/waiting areas, and expand specialty and general medical clinic spaces and offices.