New Jersey hospital's refinancing costs plenty

Newark Star-Ledger, March 3, 2008
It will cost Hackensack (NJ) Medical Center more than $16 million to escape the collapsing auction-rate securities market, a tab that offers a preview of the expenses scores of other hospitals snagged in the market turmoil can expect to face. Hackensack won approval for a plan to refinance $147 million in auction-rate bonds that have seen interest rates double this month. Records show the refinancing will cost Hackensack about $7.1 million in professional fees and another $9 million for fees to unwind a related interest-rate hedging deal.

MOST POPULAR

SPONSORED REPORTS
SPONSORED HEADLINES

SIGN UP

FREE e-Newsletters Join the Council Subscribe to HL magazine

SPONSORSHIP & ADVERTISING

100 Winners Circle Suite 300
Brentwood, TN 37027

800-727-5257

About | Advertise | Terms of Use | Privacy Policy | Reprints/Permissions | Contact
© HealthLeaders Media 2014 a division of BLR All rights reserved.