Healthcare
Healthcare Initiative –
Capital Opportunity Bond (COB),
Private Placement Program
Purpose:
The Illinois Finance Authority and GE Healthcare Financial Services have developed the Capital Opportunity Bond (COB) Program to create access to capital for small to mid-size rural and urban not-for-profit hospitals in Illinois rated BBB- or below (non-rated).
Types of Healthcare Facilities Eligible for Financing:
Small urban and rural hospitals, critical access hospitals (CAH's), and community providers of behavioral healthcare that are 501(c)(3) qualified
Uses of Financing Proceeds:
Capital projects including: construction/renovation of facilities, equipment acquisition, acquisition of land or buildings, and to refinance existing debt
Highlights and Benefits:
- Favorable interest rates and low fixed fees
- Fixed rate financing
- Finance up to 100% of project cost
- Standardized documents, professional streamlined process
Terms of Financing:
Private placement bond issue ranging from $1 million to $10 million
Terms: 5, 7, and 10 year terms
Fees:
Low fixed fees including: Private Placement Agent (GE Healthcare Financial Services), Bond Counsel and Issuerӳ Counsel, Escrow Agent, Illinois Finance Authority and Borrower's Counsel
All fees are paid by borrower. For complete information, including current fee schedule, contact the IFA Healthcare Team or a Funding Manager at your local IFA office.
Learn More about IFA's Healthcare Initiative. Contact the IFA Healthcare Team.
