Highlands Regional Medical Center Restructures $27M in Debt
Highlands Regional Medical Center in Prestonsburg, Ky., recently obtained $27.3 million in direct funding to replace its expiring letters of credit enhancing a series of 2007 bonds.
Lancaster Pollard, a national investment banking and mortgage banking firm headquartered in Columbus, Ohio, advised the hospital in the deal.
The refunding consisted of a combination of taxable and tax-exempt variable rate bonds privately placed with a commercial bank and used to refund the 2007 enhanced variable rate demand bonds, according to Lancaster Pollard.
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