Orlando Health to secure $300M to help fund capital projects

The Orange County Health Facilities Authority is selling $300 million worth of bonds on behalf of Orlando (Fla.) Health, according to a Feb. 2 filing.

Proceeds from the bonds will be loaned to Orlando Health. The funds will go toward two new freestanding emergency departments in Longwood, Fla., and in unincorporated Orange County; various healthcare facilities in downtown Orlando; a new acute care hospital in Lakeland, Fla.; and upgrades to the system's Health Central and South Lake hospitals.

Orlando Health operates 10 hospitals and multiple emergency departments in a 3,200-bed system employing more than 23,000 people.

Fitch Ratings, which upgraded Orlando Health to "AA-" Jan.18, said the new bonds would bring Orlando Health's outstanding debt to $2.3 billion.

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