Five things to know:
1. Adventist plans to use proceeds from the bonds to finance capital projects across 12 of its California hospitals and some of its clinics, according to the report.
2. The tax-exempt bonds are rated “A-” by S&P Global Ratings and “A” by Fitch Ratings. The bonds were structured with a six-year mandatory put date of Sept. 1, 2028, were priced at an initial yield of 3.13 percent and have a final maturity date of March 1, 2040.
3. The sale was approved by the California Health Facilities Financing Authority board — the state’s platform for providing financial assistance to public and nonprofit healthcare providers — which is chaired by Ms. Ma. Since it was established in 1979, the CHFFA has completed 637 bonds and note issues providing more than $45 billion to California healthcare facilities.
4. The bonds were priced on Dec. 8 and issued Dec. 19.
5. Adventist owns, operates or manages 23 hospitals and 370 clinics across California, Hawaii, Oregon and Washington.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.