Michigan system seeks $63M in bonds for improvements, debt refinancing

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Traverse City, Mich.-based Munson Healthcare seeks to secure up to $63 million in revenue and refunding bonds to make improvements to system facilities and refinance debt, according to the Traverse City Record-Eagle.

The bonds would benefit Munson Healthcare, Munson Medical Center in Traverse City, Manistee (Mich.) Hospital and Otsego Memorial Hospital in Gaylord, Mich. They would go toward expanding surgery capacities and emergency room improvements at Otsego Memorial and improving outpatient services at Manistee Hospital, according to Mark Hepler, CFO of Munson Healthcare.

Mr. Hepler said it would also go toward refinancing some of Munson Medical Center's 2011 debt.

The Grand Traverse County Hospital Finance Authority would issue the bonds.

 

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