Rex Healthcare completes $150M bond sale for capital project

Listen

Raleigh, N.C.-based Rex Healthcare has raised $150 million to help the system fund a new heart hospital tower, according to a Triangle Business Journal report.

Construction is underway on the new facility, called the N.C. Heart & Vascular Hospital.

The majority of the funds ($100 million) were raised through a variable rate bank loan, and $50 million of the funds were raised through the issuance of tax-exempt, fixed rate bonds. The North Carolina Medical Care Commission issued the bonds.

In a news release about the deal, Rex Healthcare President Steve Burris said, "Borrowing this money is an important step for Rex as we continue building a state-of-the-art heart and vascular hospital that will improve the overall health of our community and patients for generations to come," according to the report.

The new tower is expected to open in early 2017.

More articles on healthcare finance:

Ascension revenue increases while profits slump 39%
Healthcare cost insight from 2 unlikely sources: Bob Knight and SpongeBob
How 2 hospital CFOs are embracing their evolving roles and leading their organizations to success

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Whitepapers

Featured Webinars