Bon Secours Mercy Health Refinances $322 Million Through JEDA

Posted on October 13, 2020 - News, Success Story

Bon Secours Mercy Health, Inc., through its partner HealthSpan, is using $322 million in bond funding from the S.C. Jobs-Economic Development Authority (JEDA) for refinancing across its system of six hospitals in Greenville, Charleston, Mount Pleasant and Goose Creek.

The Catholic health care ministry, one of the nation’s 20 largest health systems, employs 8,800 people at Roper Hospital, Bon Secours St. Francis Hospital, Roper St. Francis Mount Pleasant Hospital, Roper St. Francis Berkeley Hospital, St. Francis Hospital and St. Francis Hospital (Eastside).

Bon Secours Hospital

The $322 million in hospital facilities revenue bonds will be used to refinance prior debt incurred by Roper St. Francis Healthcare, for expansions in Charleston and Berkeley Counties, and by St. Francis Hospital, for expansions in Greenville County.

“Taking advantage of favorable interest rates will provide us with significant savings to bolster both our financial position, and most critically, our ability to continue to expand and improve services at these longstanding South Carolina healthcare institutions.”
— Jerry Judd, Senior Vice President, Treasury with Bon Secours Mercy Health

“We’re pleased we could be part of the team to help Bon Secours Mercy Health with these complex financial issues. It is always an honor to help healthcare providers meet their missions and serve the healthcare needs of South Carolinians,” said Jeremy Cook, South Carolina Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Charleston.

“JEDA appreciates once again being called upon to help provide these outstanding medical providers with the tax-advantaged financing they need. That’s been an important segment of our bond work for decades,” said Harry Huntley, CPA, Executive Director of JEDA in Columbia.

Roper St. Francis - Mount Pleasant Hospital