Looking to take advantage of low interest rates, many non-profit hospitals and health systems have rushed to refinance old bonds, according to a Crain's Chicago Business report.
Several Chicago-area hospitals have made such moves, including Rush University Medical Center and Cadence Health in Winfield, Ill., according to the report.
The University of Chicago Medicine also has plans to refinance $85 million in bonds that were issued roughly 11 years ago thanks to the market rates, which are at all-time lows. U of C Medicine is expected to save roughly $13.5 million over the 24-year lifespan of the bonds by refinancing from a 5.07 interest rate to roughly 4 percent.
Several Chicago-area hospitals have made such moves, including Rush University Medical Center and Cadence Health in Winfield, Ill., according to the report.
The University of Chicago Medicine also has plans to refinance $85 million in bonds that were issued roughly 11 years ago thanks to the market rates, which are at all-time lows. U of C Medicine is expected to save roughly $13.5 million over the 24-year lifespan of the bonds by refinancing from a 5.07 interest rate to roughly 4 percent.
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