October 12th, 2012

Flirting With Taxable Markets

By Kelley Luckstein

Dignity Health became the latest not-for-profit health system to announce it would venture for the first time into taxable public markets. The San Francisco-based system, expected this month to borrow up to $500 million from taxable investors, is seeking to refinance $310 million in short-term debt from its August acquisition of U.S. HealthWorks, a for-profit network of urgent-care centers and occupational medicine services, said Lisa Zuckerman, vice president of treasury services...The Mayo Clinic in Rochester, Minn., issued its first public taxable bond deal in August for $300 million that will be used for operating needs and capital. The deal was issued at rates comparable to the tax-exempt market.

 

ModernHealthcare by Melanie Evans

Tags: Dignity Health, Finanical, Lisa Zuckerman, Mayo Clinic Rochester, ModernHealthcare, taxable public markets, U.S. HealthWorks

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