Recent Financings
2019 Financings

VIRTUA HEALTH, INC.

On April 4, 2019, the New Jersey Health Care Facilities Financing Authority issued $205,435,000 of tax-exempt bonds on behalf of Virtua Health, Inc.  The proceeds of the transaction were used to currently refund the Authority’s Series 2009A bonds and pay the related costs of issuance.  The bonds were privately placed with TD Bank, N.A.

The All-in-True Interest Cost for the bond issue was 3.299107%.  Had the bonds been issued as taxable bonds it is estimated the interest rate would have been 4.33%.  As a result of issuing tax-exempt bonds through the New Jersey Health Care Facilities Financing Authority, Virtua Health realized a Present Value Savings of $56,438,214 or 24.526091% over the refunded bonds. The estimated savings of the tax-exempt bonds versus taxable bonds was $10,960,529.83.  The present value of a 1 basis point change for the issuance is $245,567.