Featured Municipal Bond in the Market, Week of 11/21/2016: Maryland Health and Higher Educational Facilities Authority, Issuing for Adventist HealthCare Revenue Bonds – $270 Million
This week’s featured bond comes from the State of Maryland. The Maryland Health and Higher Educational Facilities Authority is issuing Adventist HealthCare revenue bonds in the amount of $270 million the week of November 21, 2016. These bonds are scheduled to be issued as a single series, and their purpose is to finance and refinance the construction of an 8-level Washington Adventist Hospital. Security for the bonds is a limited obligation of pledged unrestricted revenues of Adventist HealthCare, Inc., a Maryland non-stock membership corporation, and Adventist Rehabilitation Hospital. The obligated members of the Adventist HealthCare, Inc. are as follows:
- Shady Grove Adventist Hospital – Rockville, MD
- Germantown Emergency Center – Germantown, MD
- Washington Adventist Hospital – Takoma Park, MD
- Adventist Behavioral Health – Rockville, MD
- Adventist Rehabilitation Hospital of Maryland – Rockville, MD
- LifeWork Strategies – Gaithersburg, MD
- Capital Choice Pathology Liboratory – Silver Spring, MD
These details and more on purposes, security, and other matters pertaining to these Adventist HealthCare revenue bonds can the found in the official statement, provided by MuniOS.
Adventist HealthCare primarily serves the Washington D.C. Metro area. As of September 2016, Washington Metro has an unemployment rate of 3.9%, which is 0.3% lower than the same time last year, and 1.0% lower than the national average.
Provided at left is a quick snapshot of financial characteristics of the Adventist HealthCare Inc., along with the medians for other states, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.