Melio & Company advised Geisinger Health System on the issuance of $136.68 million of fixed rate Health System Revenue Bonds
In May 2010, on behalf of Geisinger Health System, the Geisinger Authority issued $136,680,000 of Health System Revenue Bonds, Series 2011A-1&A-2. The bonds were underwritten by J.P. Morgan, Wells Fargo Securities and PNC Capital Markets.
The bond proceeds from the sale of the Series 2011A-1 were used together with other moneys of the System to finance a pooled loan program and to make loans to members of the Obligated Group and System Affiliates for the purpose of the financing, refunding and reimbursing the costs of capital projects. The Series 2011A-2 were used to provide for the current refunding of $38,315,000 in aggregate principal amount of Geisinger’s 1998A Bonds. The Foundation expects to pay all costs of issuance of the Series 2011A Bonds from its own funds.