Catholic Health has secured orders from several investors for $58.5 million in bonds to fund construction of its Lockport Memorial Hospital, reports Niagra Frontier Publications. In addition to the new hospital, which will become a campus of Mount St. Mary’s Hospital in Niagara County, the bond financing will support cardiac catheterization room renovations at Mercy Hospital of Buffalo, and other small infrastructure projects across the system.
A press release noted, “Last Wednesday, Bank of America initiated the bond offering on behalf of Catholic Health. Executed amid the current tumultuous financial environment, the offering was closed after 30 minutes with more than $227 million in orders placed. The bond documents will be finalized over the next week, selecting the final investors to make up the $58.5 million in financing.” Read more.
