Minnesota hospitals hit hard by bond markets
Minneapolis Star Tribune, February 19, 2008
The latest upheaval in the U.S. bond market is threatening two major Minnesota hospital chains with serious financial pain. Park Nicollet Health Care Services will pay an extra $86,000 in interest on its outstanding debt in one week alone. And if Fairview Health Services can't refinance its $450 million in debt, the chain of hospitals and clinics could see a jump in its interest rates that would cost it an extra $3.5 million a month.
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