Melio & Company advised on the refunding of $41,120,000 with US Bank’s Bank Owned Bond Structure
In October 2011, on behalf of Cleveland Clinic Health System, Melio & Company issued an RFP for the current refunding of the Series 1999B Bonds via a variable rate SBPA, direct purchase, or as part of the fixed rate public offering. Through the RFP process, the Cleveland Clinic Health System identified Bank Owned Bonds as the structure for the Series 1999B Bonds. Through a Bank Owned Bond Structure, the Cleveland Clinic Health System was able to secure the lowest cost and most favorable terms.
US Bank’s Series 2011B Bank Owned Bond Structure refunded the Series 1999B Bonds.