Experience

Bond Counsel for $1.16 Billion Health Care Financing

Client: Bon Secours Mercy Health, Inc.

We served as bond counsel for Bon Secours Mercy Health, Inc., one of the nation’s 20 largest health care systems, with respect to the issuance of several series of bonds totaling $1.16 billion in aggregate principal amount. As bond counsel, we assisted with each step of the financing process, which involved the public offering of municipal tax-exempt and corporate taxable bonds involving issuers in three states. The bonds were issued in April of 2020 and enabled the financing or refinancing of health care facilities in Ohio, South Carolina, and Virginia while also contributing to the re-opening of the capital markets for health care borrowers during the COVID-19 pandemic. These combined bond deals were selected by The Bond Buyer as its 2020 Deal of the Year in the Health Care Financing Category.

$100,000,000 County of Franklin (Nationwide Children’s Hospital Project)

$100,000,000 County of Franklin, Ohio Hospital Improvement Revenue Bonds, Series 2009 (Nationwide Children’s Hospital Project)

$101,900,000 City of Kalamazoo Hospital Finance Authority (Bronson Healthcare Group Inc.)

$101,900,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue Bonds, Series 2011 (Bronson Healthcare Group Inc.) $22,900,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue Bonds (Bronson Healthcare Group, Inc.), Series 2011A (Tax-Exempt) and $79,000,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue Bonds (Bronson Healthcare Group, Inc.), Series 2011B (Taxable)

$114,260,000 City of Kalamazoo Hospital Finance Authority (Bronson Methodist Hospital)

$114,260,000 City of Kalamazoo Hospital Finance Authority Hospital Revenue and Revenue Refunding Bonds, Series 2010 (Bronson Methodist Hospital)

$12,000,000 Colorado Health Facilities Authority Revenue Bonds

$12,000,000 Colorado Health Facilities Authority Revenue Bonds, Christian Living Communities

$15,965,000 Colorado Health Facilities Authority Revenue Bond (Sunny Vista Living Center Project), Series 2010

$15,965,000 Colorado Health Facilities Authority Revenue Bond (Sunny Vista Living Center Project), Series 2010 – Bond and Borrower Counsel for direct bank private placement

$155,315,000 County of Gallia, Ohio (Holzer Health System Obligated Group Project)

$155,315,000 County of Gallia, Ohio Hospital Facilities Revenue Refunding and Improvement Bonds, Series 2012 (Holzer Health System Obligated Group Project)

$155,430,000 County of Butler, Ohio (Kettering Health Network Obligated Group Project)

$155,430,000 County of Butler, Ohio Hospital Facilities Revenue Bonds, Series 2011, (Kettering Health Network Obligated Group Project)

$177,975,000 County of Montgomery, Ohio (Kettering Health Network Obligated Group)

$177,975,000 County of Montgomery, Ohio Adjustable Rate Hospital Facilities Revenue Refunding Bonds, Series 2011 (Kettering Health Network Obligated Group)

$183,645,000 State of Ohio Hospital Facilities Revenue Bonds (Summa Health System 2010 Project)

$21,480,000 Colorado Health Facilities Authority Variable Rate Demand Revenue Bonds (Bethesda Adult Communities) Series 2008A and Series 2008B

$21,480,000 Colorado Health Facilities Authority Variable Rate Demand Revenue Bonds (Bethesda Adult Communities) Series 2008A and Series 2008B – Bond Counsel for refinancing of variable rate bonds and issuance of new money, using liquidity facility, hedge and master trust indenture structure

$22,881,000 Colorado Health Facilities Authority Revenue Bonds (AlloSource Inc.) Series 2010

$22,881,000 Colorado Health Facilities Authority Revenue Bonds (AlloSource Inc.) Series 2010 – Bond and Bank Counsel for direct bank private placement

$23,161,031.72 Hospital Authority No. 1 of Scotts Bluff County, Nebraska Healthcare Revenue Bond (Regional West Medical Center Project) Series 2012A

$23,161,031.72 Hospital Authority No. 1 of Scotts Bluff County, Nebraska Healthcare Revenue Bond (Regional West Medical Center Project) Series 2012A — Bond and Borrower Counsel for Bank private placement

$31,945,000 County of Lucas, Ohio (Lutheran Homes Society, Inc. Obligated Group Project)

$31,945,000 County of Lucas, Ohio Health Care Facilities Revenue Refunding and Improvement Bonds, Series 2010 (Lutheran Homes Society, Inc. Obligated Group Project)

$313,765,000 County of Franklin, Ohio Hospital (OhioHealth Corporation)

$313,765,000 County of Franklin, Ohio Hospital Facilities Revenue Bonds and Hospital Facilities Refunding Revenue Bonds, Series 2011(A-D) (OhioHealth Corporation)

$41,110,000 County of Montgomery, Ohio Health Care and Multifamily Housing (St. Leonard)

$41,110,000 County of Montgomery, Ohio Health Care and Multifamily Housing Improvement and Refunding Revenue Bonds, Series 2010 (St. Leonard)

$43,930,000 City of Steubenville (Trinity Health System Obligated Group)

$43,930,000 City of Steubenville, Ohio Hospital Facilities Revenue Refunding Bonds, Series 2010 (Trinity Health System Obligated Group)

$49,195,000 Colorado Health Facilities Authority Revenue Refunding Bonds

$49,195,000 Colorado Health Facilities Authority Revenue Refunding Bonds Christian Living Communities

$63,045,000 City of Middleburg Heights, Ohio (Southwest General Health Center Project)

$63,045,000 City of Middleburg Heights, Ohio Hospital Facilities Revenue and Refunding Bonds, Series 2011 (Southwest General Health Center Project)