Kaweah Delta Health Care District
Opus Bank’s Healthcare Banking Division provides a Secured Tax Exempt Term Loan to Kaweah Delta Healthcare District
Overview of Transaction
- The Healthcare Banking Division of Opus Bank (“Opus”), with participation from Banner Bank, provided a tax exempt term loan to Kaweah Delta Health Care District (the “District”) to refinance its Series 2006 and Series 2011B Health Facilities Revenue Bonds.
- The term loan is pari passu with the Series 2012 and Series 2015 A&B Revenue Bonds.
- Piper Jaffray & Co. served as the placement agent.
Significance of Transaction
- The District was able to lower its cost of capital by refinancing the Series 2006 and Series 2011B Health Facilities Revenue Bonds.
- The speed and ease of execution of the bank loan relative to a municipal bond sale allowed the District to access the capital markets quickly and efficiently.
Opus Bank's Role
- This tax exempt transaction for Opus’ Healthcare Banking Division helps build upon its position as a strategic financial partner supporting a diverse tool kit of solutions for healthcare providers nationwide.
- The transaction between Opus and the District establishes Opus as a partner for future growth opportunities with the District.