Unique Draw-Down Direct Bank Purchase Advance Refunding Bonds Saves Local Hospital Interest Expense

All tax-exempt direct purchases are definitely not alike. Counseling a bank client on the offering of a variable rate, draw-down advance refunding of tax-exempt bonds with a forward starting swap wasn’t a run-of-the-mill financing but through our efforts the bank retained a valuable hospital client and the hospital took advantage of historically low interest rates to achieve substantial savings.