Stand Alone Bond Issues

AtlantiCare Health System
AtlantiCare Health System has signed a Memorandum of Understanding with the Authority to undertake a tax-exempt private placement of approximately $40 million. The proceeds of the bonds will be used to refund two variable rate composite loan program bonds issued through the Authority (the Series 2005A-1 and Series 2006 A-1), fund a debt service reserve if necessary, and pay any related costs of issuance.

Expected pricing/bid date: December

Meridian Health System
Meridian Hospital Corporation has signed a Memorandum of Understanding with the Authority to undertake a tax-exempt public offering of approximately $235 million. The proceeds of the bond issue will be used to refund all or a portion of Meridian's Series 1999 revenue bonds, Jersey Shore Medical Center's Series 1994 bonds, and Southern Ocean County Hospital's Series 2001 and Series 1999 bonds. Proceeds will also be used to pay the related costs of issuance and, if necessary, fund any debt service reserve fund.    

Expected pricing/bid date: December

Shore Medical Center
Shore Medical Center has signed a Memorandum of Understanding with the Authority to undertake a tax-exempt private placement of approximately $10 million. The proceeds from this financing will be used to reimburse Shore for a portion of the construction costs of the parking garage and to pay the costs of issuance associated with this financing.

Expected pricing/bid date: December

Warren Hospital
Warren Hospital has signed a Memorandum of Understanding with the Authority for the issuance of approximately $43,000,000 of bonds. The proceeds are expected to be used to refund the Authority's Series 2008A, refund the Authority's Series 2008B (Taxable), fund the Debt Service Reserve (if required) and pay related costs of issuance.

Expected pricing/bid date: January