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CSCDA Issues $251,770,000 in Tax-Exempt Bonds for Methodist Hospital of Southern California


December 11, 2018

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $251,770,000 in tax-exempt bonds for Methodist Hospital of Southern California (MHSC), based in Arcadia, California.

About Methodist Hospital:

MHSC is a nonprofit general acute care hospital providing a range of inpatient and outpatient services in the San Gabriel Valley in northeastern Los Angeles County.  MHSC currently has 348 licensed beds, is a Medicare 5-Star rated hospital, and treats more than 50,000 patients in the Emergency Department each year.  The facility is outfitted with advanced diagnostic technology like the 320-slice CT scanner and high-definition MRI.  MHSC also manages state-of-the-art catheterization labs, electrophysiology, and neuro-interventional radiology.

About the Financing:

CSCDA partnered with KeyBanc Capital Markets and Orrick, Herrington & Sutcliffe, LLP to provide the $251,770,000 in tax-exempt bonds for MHSC.  The bonds will be issued to refinance a taxable loan, significantly reducing MHSC’s annual debt service payments.

About CSCDA:

CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 530 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $60 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.

For more information about CSCDA, please visit: www.cscda.org

For more information about MHSC, please visit: www.methodisthospital.org

CLICK HERE to download a PDF version of this announcement
 
 
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