The 25-bed critical access hospital will use the funds to renovate its patient rooms and modernize operations.
Lancaster Pollard served as the hospital’s investment banker, developing a credit profile for the hospital and soliciting an investor. The financing consisted of tax-exempt bonds at a fixed interest rate of less than 3 percent for 20 years. The structure features a 2-year, interest-only period and an 18-year amortization and term. Additionally, during the two-year period, interest is paid on the disbursed amount instead of the total amount.
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