Client Transactions

Melio & Company advised the Cleveland Clinic on the issuance of $498.550 million of 2009B fixed rate bonds.

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In August 2009, the State of Ohio issued $498,550,000 of Series 2009B fixed rate bonds. The bonds were underwritten by J.P. Morgan, Merrill Lynch & Co., Morgan Stanley, PNC Capital Markets, and Wells Fargo Securities.

The proceeds from the sale of the bonds will be used , together with certain other funds, to pay or reimburse the Cleveland Clinic for a number of construction and renovation projects, including: (i) construction of a 100,000 square foot data center to house critical computing assets for both business and clinical functions; (ii) construction and renovation of the existing Pathology and Laboratory Institute; (iii) consolidation of magnetic resonance and radiology facilities in the lower level of the newly completed Glickman Urological Institute; (iv) construction of a Chronic Disease Management Center located at Huron Hospital; (v) renovation and expansion of the Emergency Department and Intensive Care Unit at Fairview Hospital, including construction of an approximately 142,000 square foot addition; (vi) replacement of all existing surgery suites at Marymount Hospital, with the creation of new and post-surgery areas; (vii) expansion of electrophysiology labs; (viii) construction of a new, approximately 190,000 square foot, multi-story facility at the Family Health Center located in Twinsburg; (ix) purchase of a leased garage / office facility; and (x) various other construction and renovation projects by the Cleveland Clinic.