Fort Lauderdale, Fla.-based Broward Health priced and sold $317 million of tax-exempt revenue bonds Nov. 21.
Broward Health intends to use the bonds to fund capital investments, including expanding its Fort Lauderdale-based Salah Foundation Children's Hospital at Broward Health. A portion of the bonds will refinance variable debt with long-term fixed rate borrowing and boost Broward Health's unrestricted cash balances.
"Achieving an appropriate level of permanence to the capital structure of Broward Health is vital to its financial stability and ability to fulfill its mission," said Christopher Ure, North Broward Hospital District Board vice chair.
Broward Health interim CEO Beverly Capasso added the bond sale marks "a significant milestone in our turnaround and transformation."
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