Melio & Company advised Trinity Health on the issuance of $896.535 million of Series 2015 Composite Issue Fixed Rate Bonds.
In February 2015, on behalf of Trinity Health, Michigan Finance Authority, Idaho Health Facilities Authority and Montgomery County, Maryland issued $561,215,000, $171,310,000 and $164,000,000, respectively, of Series 2015 fixed rate revenue bonds. The bonds were underwritten by Bank of America Merrill Lynch, Goldman Sachs, J.P. Morgan, Wells Fargo Securities, Loop Capital Markets, and Cabrera Capital Markets. After tremendous volatility in the tax-exempt fixed income capital markets, Trinity Health was able to secure the lowest cost of capital and most favorable terms.
The proceeds of the sale of the Series 2015 Bonds will be used to (i) finance or refinance the costs of the acquisition, construction and equipping of health care facilities owned and operated by the Corporate or its affiliates; (ii) redeem certain bonds previously issued by certain conduit issuers for the benefit of the Corporation, Catholic Health East and their affiliates, and; (iii) pay certain costs of issuing the Bonds.