Cone Health seeks $200M in bond funding

Greensboro, N.C.-based Cone Health is seeking $200 million in bonds, which will partially be used for an expansion at Cone Health Heart & Vascular Center, a spokesperson told Becker's May 24.

The rest of the money will be mostly used to refinance $500 million in existing debt with better rates and terms, the spokesperson said. This will most likely happen in the first quarter of 2023.

"This action is designed to provide additional services in the future and to more efficiently pay for the services we added in the past," the spokesperson said.

This contradicts a May 23 article by Rhino Times, which stated Cone Health is seeking $700 million in bonds.

The heart and vascular expansion includes a five-story outpatient center at Moses H. Cone Memorial Hospital, the health system said May 4.

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