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.