Melio & Company advised on the replacement of a $115,000,000 SBPA with PNC’s Bank Owned Bond Structure
In February 2011, on behalf of Geisinger Health System, Melio & Company issued an RFP to renew or replace the Series 2009B&C $115,000,000 SBPA for the Series 2009B&C Health System Revenue Bonds which was expiring. Through the RFP process, Geisinger Health System identified an alternate structure for the expiring Series 2009B&C SBPA. Through a Bank Owned Bond Structure, Geisinger Health System was able to secure the lowest cost, most favorable terms, and reduce bank risk.
PNC’s Bank Owned Bond Structure replaced the SBPA for the Series 2009B&C Bonds.