November 2019

Underwriter’s Counsel for $534M Health System Revenue Bonds, Series 2019

United States - Pennsylvania

Our firm acted as underwriter’s counsel in the issuance of $534 million of University of Pennsylvania Health System Revenue Bonds, Series 2019 by the Pennsylvania Higher Educational Facilities Authority. The bonds were issued to finance capital projects on behalf of Penn Medicine, the University of Pennsylvania’s health system, including a portion of the costs of a new approximately $1.5 billion patient pavilion for the Hospital of the University of Pennsylvania in Philadelphia. Over the past 15 years, our firm has represented the underwriters in over $3 billion in new money and refunding transactions for Penn Medicine.

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