The two entities merged last April. Now, Lehigh Valley looks to refinance debt Schuylkill Health has from two outstanding bond issues, a 2014 bond issue of $29.8 million and a 2016 bond of $20 million, according to the report.
The 2014 bond has an interest rate of “between 5 and 6 percent” and the 2016 bond has an interest rate of 5.25 percent, said Edward O’Dea, the executive vice president of finance and the CFO of Lehigh Valley Health Network, in the report.
Lehigh Valley hopes to refinance the bonds with an interest rate that is “a little above 3 percent,” Mr. O’Dea said.
The City of Pottsville Hospital Authority approved Lehigh Valley’s request earlier this month, according to the report. The city council will consider approval at its next meeting, scheduled for 6 p.m. Monday.
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