Melio & Company advised Geisinger Health System on the issuance of $115 million of Series 2013 Variable Rate Bonds.
In October 2013, the Geisinger Authority issued $115,000,000 of the Series 2013 variable rate bonds. The initial SBPA facilities securing the two subseries of the Series 2013 Bonds were issued by Wells Fargo Bank and TD Bank. The bonds were underwritten by J.P. Morgan, Wells Fargo Securities and Bank of America Merrill Lynch.
The bond proceeds 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 Foundation expects to pay all costs of issuance of the Series 2013 Bonds from its own funds.