- Connecticut chain is returning to muni market like its peers
- Half of the proceeds will be used on capital projects
Yale New Haven Health System is slated to join a flurry of hospitals issuing municipal bonds this year.
The Connecticut-based chain affiliated with the Ivy League university plans to borrow about $670 million next month. Half of the proceeds from the debt sale will be used for its capital-spending program, which includes a neurosciences center, said Dana Marnane, a spokesperson for the system, in an email.
Hospital borrowing in the state and local government debt market has boomed this year, with deals already running at more than triple the rate of 2023, and more bond issuances are expected. Many of the larger systems are seeing their finances stabilize after the upheaval of the pandemic, though they’ve had to adjust to much higher costs for labor and supplies.
Bloomberg
By Lauren Coleman-Lochner
May 30, 2024