JEDA Bonds Refinance Roper St. Francis Projects
Charleston — Charleston County
CareAlliance Health Services, which does business as Roper St. Francis, leveraged $89,925,000 in low-interest, tax-exempt bonds issued by the South Carolina Jobs-Economic Development Authority (JEDA) to reduce the financing costs of various projects at the Charleston-based hospital system.
The Series 2014 Hospital Refunding Revenue Bonds helped retain 5,266 jobs at Roper St. Francis by refunding higher-interest debt previously issued to pay for construction projects, equipment acquisition and other improvements.
The not-for-profit healthcare system – anchored by Roper Hospital, Bon Secours St. Francis Hospital and Mount Pleasant Hospital – is now more than 150 years old and offers 657 hospital beds, 90 facilities and services in seven counties.
“JEDA financing again proved pivotal to our ability to finance updates to our physical infrastructure as we expand to meet the growing healthcare needs of the Lowcountry communities we serve,” said Bret Johnson, Senior Vice President and Chief Financial Officer at CareAlliance Health Services.
“Working with such significant providers of quality-of-life services to our community is very gratifying to us. We were privileged to be able to help execute this financing option for Roper St. Francis,” said Jeremy Cook, Bond Counsel with Haynsworth Sinkler Boyd, P.A. in Charleston.
“CareAlliance Health Services and its predecessor organizations have worked hard for generations to provide a continuum of healthcare services to Charleston and the surrounding area. JEDA is pleased to have had some part in helping them along the way,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.