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Health Care Finance

Ice Miller has a national reputation in health care finance based on the depth of our experience, the versatility and creativity of our attorneys and the well-established relationship we have with our long-standing clients.

The Firm is well-suited to represent any party to a financing, but we most frequently serve as bond counsel or underwriter’s counsel on financings for hospitals and health systems. We take a collaborative and team-oriented approach in assisting with all types and aspects of transactions including:
 
  • Refundings and New Money Projects
  • Fixed and Variable Rate Financings
  • Bank Loans & Direct Purchases
  • Securities & Disclosure Matters
  • Interest Rate Swaps & Novations
  • Intercompany Loans and Guarantees
  • Mergers, Reorganizations and Dispositions of Assets
  • Taxable & Tax-exempt Obligations
Our exceptional services extend beyond the closing of the transaction providing counsel on post-issuance matters that include, but are not limited to, arbitrage rebate compliance, review of Schedule K to the Form 990, credit and liquidity facility extensions and replacements, post-issuance compliance best practices, document amendments, remediations and IRS audits. We are committed to providing our clients with comprehensive, high-quality advice and counsel at a reasonable cost.
 

Representative Experience

Ice Miller’s health care finance team has proudly served as:
 
  • Bond counsel to the restructuring of Indiana health system portfolio involving 19 series of fixed rate, variable rate and direct purchased bonds totaling over $500,000,000 in the aggregate principal amount and related swap novations  having combined notional amounts of 2,000,000,0000.
  • Bond counsel to health system refinancing of its health facilities in an aggregate principal amount totalling over $500,000,000.
  • Bond counsel to the affiliation of multiple county hospitals and nonprofit health systems.
  • Underwriter's counsel to Ohio health system fixed rate bond issue and establishment of a commercial paper program.
  • Underwriter's counsel for a senior living financing of multi-site life plan communities.
  • Bond counsel to county hospitals' financings of new facilities with the proceeds of a USDA Rural Development Loans.
  • Bond counsel to health system affiliation with rural county hospitals.
  • Bond counsel to catholic health system refinancing and conversion of its portfolio of auction rate securities and subsequent credit facility extensions and replacements.
  • Rebate counsel to health care bond issues providing arbitrage calculations and the related rebate opinions.
  • Borrower's counsel to senior living and acute care borrowers of tax-exempt bonds.
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