News Headlines Article

Refinancing Aids Hospital District
San Fernando Valley Business Journal

The Antelope Valley Healthcare District announced Tuesday that it has refinanced its debt into a fixed-rate, long-term public bond issue that will improved the district’s financial flexibility.

The district, a subdivision of the state and which operates similar to a school district, owns the Antelope Valley Hospital in Lancaster.

The district’s new $140 million in bond money will reach final maturity in 2046 and has a net interest cost of less than 5 percent. It will pay off all the district’s debt, including a balloon payment that was due next year. The new agreement also allowed the district to reduce its cash-on-hand requirement and close a line of credit.