Melio & Company advised Memorial Hermann Health System on the issuance of $70,400,000 million of Series 2014 C and D Variable Rate Bonds.
In June 2014, on behalf of Memorial Hermann Health System, Harris County Cultural Education Facilities Finance Corporation issued $70,400,000 of the Series 2014 C and D variable rate bonds. Payment of principal of and interest on, and purchase price of Series 2014 C and D will initially be secured by a separate direct-pay LOC issued by RBC Capital Market and Wells Fargo Securities, respectively. The Series 2014 C will be underwritten by RBC Capital Markets, and the Series 2014 D bonds will be underwritten by Wells Fargo Securities.
The proceeds from the sale of the Series 2014 C and D Bonds will be used to (i) finance a number of capital projects for Memorial Hermann Health System and its affiliates; and (ii) pay certain costs and expenses incurred in connection with the issuance of the Series 2014 C and D Bonds.