Northeastern Vermont Regional Hospital

Bond Series: 2016 Series A Bonds

Closed: April 1, 2016

Bond Size: $12.6 Million

Credit Rating:

Purchaser: Passumpsic Savings Bank

Interest Rate: 2.23% fixed for ten years and then at a rate equal to Federal Home Loan Bank of Boston (“FHLBB”) 5 year/5 amortizing regular advance rate

Final Maturity: 2032

Yield: None

Purpose: The bonds will be used to: i) refund Northeastern’s outstanding 2004 and 2009 bonds; and ii) pay for issuance costs related to the financing.

Project Benefit: The financings are expected to save the Hospital over $2.2 million in debt service over the life of the bonds. The 2016 bonds will also reduce Northeastern’s interest rate risk, remarketing risk and bank exposure