Issuance of $566M in Hospital Revenue Bonds

The Lehigh County General Purpose Authority issued $566 million of its Hospital Revenue Bonds, Series A and B of 2019. The bonds, issued on behalf of Lehigh Valley Health Network and its health system affiliates, restructured the health system’s outstanding debt through the refunding of prior debt, and provided additional funds for capital projects. Our firm served as obligated group counsel in the issuance, negotiating a new master trust indenture for the health system’s obligated group, replacing an indenture in place since 1987.