Our experience includes these matters:

Health Care

  • For more than 20 years, we have served as underwriter's counsel in financings for an internationally prominent research, health care, and educational organization and its affiliates, comprising 19 issues aggregating approximately $2.6 billion. These transactions financed or refinanced the construction of new hospitals, research facilities, clinical facilities, and educational facilities in Minnesota, Arizona, Wisconsin, and Florida.

  • We acted as bond counsel in connection with the comprehensive restructuring in 2004 and 2005 of approximately $700 million in bonds and in 2008 and 2009 for approximately $400 million in bonds for a health system comprising an Ivy League medical school, its faculty practice, teaching and research hospitals, and community hospitals.

  • Ballard Spahr has represented the underwriter in financings for an internationally prominent pediatric hospital and research center in Philadelphia aggregating nearly $1 billion.

  • Since 2000, we have acted as underwriter's counsel to a leading investment banking firm in connection with 22 tax-exempt bond finance transactions for 501(c)(3) continuing care retirement communities in the Mid-Atlantic and New England regions having an aggregate principal amount of more than $1.2 billion.

  • We served as counsel to the underwriters in connection with the issuance of approximately $120 million in tax-exempt bonds to finance construction of a continuing care retirement community in the Philadelphia suburbs.

  • Ballard Spahr served as special counsel to an urban academic health care system located in the Midwest that experienced severe financial problems. We were involved in structuring bondholder meetings and rating agency presentations, reviewing covenants, affiliation discussions with physicians and medical school representatives, undertaking sales of assets, and restructuring loans with commercial banks.

  • We acted as underwriter's counsel in connection with two offerings of unsecured bonds by a national developer of retirement communities totaling more than $150 million.

  • Since 1997, we have served as bond and disclosure counsel to a research and teaching hospital and a health system affiliated with a state university in the Western United States for five separate enterprise bond issues, with an aggregate principal amount of more than $200 million. We have also served as bond and disclosure counsel to the university in financing a new cancer research facility and a new cancer hospital at the university. Our services with respect to health care financings at the university have included both fixed-rate and variable-rate transactions and swaps. As bond counsel, we provide regular consultations to the university and its hospital system concerning tax-exempt financing requirements, asset sales, leases, private use issues, and other related matters.

  • We serve as bond counsel or hospital counsel to the major regional hospital systems in a number of Pennsylvania cities, including York, Wilkes-Barre, Allentown, Harrisburg, and Williamsport.

  • We served as bond counsel in a series of financings for a Catholic health system with facilities located in the Northeast, Southeast, and Midwest. In that capacity, we helped structure and implement a credit structure in which multiple obligated issuers pooled their credit in a master indenture. As bond counsel, we participated in fixed-rate and variable-rate financings (using letters of credit and bond insurance when advantageous), gave ongoing advice on tax and securities laws compliance, and were involved in asset sales and in adding new members to the obligated group as well as removing entities from the obligated group.

  • We have served as bond counsel in eight tax-exempt financings for a Pennsylvania-based nonprofit corporation and/or its affiliates, which collectively own and operate facilities in Pennsylvania, Delaware, Maryland, and Ohio, including continuing care retirement communities, nursing homes, and other senior living facilities.

Education

  • We represented a state system of higher education as bond counsel in connection with two series of tax-exempt new money bonds and the conversion and remarketing of six issues.

  • We represented a university as special counsel in connection with the issuance of tax-exempt debt and other financing arrangements, including assisting with the structuring and coordination of the transaction; negotiating the financing documents with public issuers, underwriters, and credit enhancers; and providing legal advice on the relevant provisions of federal tax and securities law.

  • We handled most of the bond work for a state system of higher education, including student loan bonds. We also worked on financing-related matters for a public university and its nonprofit sub-entities and board of regents.

  • We represented a large, Washington, D.C.-area university as special counsel in the issuance of tax-exempt debt and other financing arrangements.

  • For almost 20 years, we served as underwriter's counsel in financings for an internationally prominent research, health care, and educational organization and its affiliates, comprising 15 issues aggregating approximately $1.7 billion. These transactions financed or refinanced the construction of new hospitals, research facilities, clinical facilities, and educational facilities in Minnesota, Arizona, Wisconsin, and Florida.

  • Since 1997, we have served as bond and disclosure counsel to a research and teaching hospital and a health system affiliated with a state university in the Western United States for five separate enterprise bond issues, with an aggregate principal amount of more than $200 million. We have also served as bond and disclosure counsel to the university in financing a new cancer research facility and a new cancer hospital. Our services with respect to health care financings at the university have included both fixed-rate and variable-rate transactions and swaps. As bond counsel, we provide regular consultations to the university and its hospital system concerning tax-exempt financing requirements, asset sales, leases, private-use issues, and other related matters.