Melio & Company advised Oregon Health & Science University on the restructuring of $186.195 million of Variable Rate Debt.
In May 2015, Oregon Health & Science University restructured $186,195,000 of Variable Rate Debt. The restructuring consisted of Series 2015A and 2015B Direct Purchase Bonds, the Series 2012 B-3 LOC Substitution, and the Series 2012C LOC Extension. The financing partners for the restructuring were J.P. Morgan, Wells Fargo, and U.S. Bank.
Melio & Company ran a competitive request for proposal process, encompassing various bank products. This allowed Oregon Health & Science University to secure long-dated, low-cost credit commitments with staggered renewal dates.
The proceeds from the sale of the 2015A and 2015B Bonds were used to (i) refinance the Series 2012 B-1 and B-2 Bonds and the Series 2012D Bonds, respectively. The transaction costs were paid with an equity contribution.