Here are five things to know about the sale:
1. The planned sale is up to $1.2 billion refunding of Wisconsin debt. This includes the issuance of up to $950 million of tax-exempt debt.
2. Details of the sale are scarce. However, hospital officials anticipate significant cash flow savings with a restructuring that will smooth the existing combination of Advocate and Aurora annual debt service payment, said Dominic Nakis, CFO of Advocate Aurora Health.
3. Mr. Nakis added: “We will be combining the debt into an amended and restated master trust indenture to reflect the merger.”
4. Mr. Nakis expects cash flow savings of $250 million over five years as a result of combining debt into an amended MTI.
5. The Bond Buyer reports hospital officials anticipate pricing the bonds on Aug. 6.
Read more about the planned sale here.
More articles on healthcare finance:
RCM tip of the day: Train registrars on insurance billing details
Wilshire Group adds senior revenue cycle consultant: 3 things to know
5 new developments on ACA’s risk-adjustment payments
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
