Renown Health is set to receive $194.4 million from a bond sale that the Reno, Nev. company will use to fund capital projects.
The bonds will be sold on Renown’s behalf by the Public Finance Authority, an agency based in Wisconsin that sells municipal debt around the U.S.
A portion of the proceeds will be used to pay for projects such as renovating the Renown Regional Medical Center and South Meadows hospitals, according to a document posted on MuniOS. Money will go toward the build-out of an ambulatory care center in Spanish Springs. Renown also expects to use proceeds to refund certain bonds issued in 2015.
The sale will include $146.7 million of Series 2025 A fixed-rate bonds, and $47.7 million of Series 2025 B long-term rate bonds.
S&P Global Ratings rated the bonds A, and Fitch Ratings assigned the securities a rating of A+.
Renown has strengthened its financial profile and improved operating risk assessment, according to Fitch. In fiscal 2024, Renown achieved positive and improved income from operations for the second consecutive year.
“Since the weaker performance in fiscal 2022, Renown has made swift and substantial progress toward positive operations, which Fitch considers sustainable,” the credit rating company said, noting progress in areas such as staff recruiting and retention.
Barclays is lead manager on the sale.
Provided by Dow Jones Jul 8, 2025, 6:00:00 PM
By Josh Beckerman
Write to Josh Beckerman at [email protected]
(END) Dow Jones Newswires
July 08, 2025 21:00 ET (01:00 GMT)
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