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Vanderbilt wins final approval for $650 million taxable bonds to buy Tenova Gateway assets
Summary
Vanderbilt University Medical Center received final board approval to issue up to $650 million in taxable revenue bonds to buy the Tenova Gateway assets in Clarksville and nearby counties. The sale is bridge financing sold to RBC, maturing in six months, with VMC planning permanent refinancing in spring and a target close date of Jan. 1 pending regulatory approvals.
Vanderbilt University Medical Center asked the Health and Educational Facilities Board for — and received — final approval to issue up to $650,000,000 in taxable revenue bonds to finance the purchase of the Tenova Gateway assets in Clarksville and surrounding counties.
"Our purpose today is to ask for approval to issue up to $650,000,000 in taxable revenue bonds to purchase the Tenova Gateway assets in Clarksville and surrounding counties," said Dwight Sealy, who identified himself as representing finance and treasury for VMC. He and Matt Scanlon, who oversees government and community…
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