SAN DIEGO--(BUSINESS WIRE)-- On March 1, 2012 LPCH priced the $200 million Series 2012A Bonds and approximately $51 million Series 2012B Bonds. The Series 2012A Bonds were structured as a 40-year term bond with a yield of 4.32%. The proceeds of the Series 2012A Bonds will be used to expand LPCH’s main facility located on the Stanford University campus in Palo Alto, CA. The Series 2012B Bonds, which are being used to refund existing debt, were structured as serial maturities from 2013 to 2027, with yields ranging from 0.33% to 3.21%. LPCH also remarketed approximately $93 million of five-year “put” bonds with a yield of 1.45%.
Keith Grundy, a Managing Director with Hammond Hanlon Camp LLC, said “We were very pleased that Lucile Packard Children’s Hospital was able to take advantage of record low interest rates to secure the long term committed capital for its expansion needs.”
About Lucile Packard Children’s Hospital at Stanford
Lucile Packard Children’s Hospital is a regional, national and international referral center for tertiary and quaternary pediatric care and a major provider of pediatric and obstetric services in the greater San Francisco Bay Area and Northern California. LPCH also serve as the pediatric teaching hospital for the Stanford University School of Medicine. Lucile Packard Children’s Hospital has over 650 physicians and 4,750 support staff and volunteers.
About Hammond Hanlon Camp LLC
Hammond Hanlon Camp LLC ("H2C") is a healthcare-focused strategic advisory and investment banking firm with a particular emphasis on the not-for-profit sector. The firm traces its heritage back almost 30 years through its predecessor organizations, including Shattuck Hammond Partners. H2C's senior bankers have served as lead advisors on transactions in the healthcare industry totaling over $30 billion. The company has offices in Atlanta, Chicago, New York and San Diego. h2cllc.com
Hammond Hanlon Camp LLC
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INDUSTRY KEYWORDS: Health Hospitals Professional Services Banking Finance General Health