Debt Financings

Coffee Medical Group has nabbed a $21.25 million refi.nance for a health care facility in Manchester, TN, that serves as the sole hospital for the rural area.

The funding will be used to develop Imperial Valley’s first PACE Center — which stands for Program of All-Inclusive Care for the Elderly — a healthcare clinic and pharmacy in Imperial, CA.  

The expansion, which is expected to be completed by 2026, will add 30,000 square feet and 10 beds to the hospital.

Harris County voters will decide Nov. 7 on a $2.5 billion bond proposal that would fund a large portion of Harris Health’s $2.9 billion strategic facilities plan.

The revenues of the hospital are intended to pay for the financing, and the package also includes a bond cash reserve of over $1.6 million which would cover payments for about a year should the hospital not fulfill its obligations.

Founded in 2018, HighFive focuses on the acquisition and development of endodontic and oral surgery practices in the southeastern United States.

California-based nonprofit City of Hope will place the tax-exempt or taxable refunding bonds that will carry a maximum final maturity in 2063 with Bank of America.

According to people familiar with the matter, Thoma Bravo is in discussions with private credit lenders about a possible financing deal, which would reduce the amount of equity the group would need to put up for the acquisition. 

Funding included debt, options and a convertible note.

The $425 million figure is expected to increase to $450 million "in early September," the system said. There is also flexibility to extend any revolving credit up to $175 million.