On December 5, 2012, Venable client Frederick Regional Health System completed a recapitalization via $166,260,000 of tax exempt revenue bonds issued by Maryland Health and Higher Educational Facilities Authority. $96,240,000 of the bonds were publicly offered as fixed rate bonds with a final maturity in 2038, and $70,020,000 were privately placed with a bank at a floating rate of interest for an initial period of ten years. Our client achieved significant debt service savings with a blend of fixed and floating interest rates and obtained additional capital for expansion.
Davis Sherman, Walter Calvert and Tammara Langlieb were the principal Venable attorneys representing FRHS.