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Bond proceeds provided for the refunding of all of Western Connecticut Health and Norwalk Hospital outstanding bond issues; the funding of a swap termination fee; and to construct a patient tower at Norwalk Hospital.
Nuvance Health, a newly formed entity, combines Western Connecticut Health Network and Health Quest Systems of New York. The Nuvance Health affiliation brings together seven community hospital campuses (Vassar Brothers Medical Center, Putnam Hospital, Northern Dutchess Hospital, Sharon Hospital, The Danbury Hospital, Norwalk Hospital and Danbury/The New Milford Hospital) located in Western Connecticut and New York's Hudson Valley.
The transaction was structured as a fixed rate public offering, which is callable July 1, 2029 at par.
For further information, search EMMA for this issue.