Hackensack Meridian Health Care Systems Merger and Debt Restructuring

Hackensack University Health Network and Meridian Health System merged to form a comprehensive and integrated health system of 13 hospitals, including two academic medical centers and two children’s hospitals and over 200 system access points.  Hackensack Meridian serves a region that covers over two-third of New Jersey’s population.  The legacy systems and hospitals were obligated under a series of complex of debt instruments and financial obligations.  Hawkins served as counsel to the underwriters in a tax-exempt and taxable plan of financing involving the issuance of almost $900 million of bonds to refund, restructure and otherwise discharge the legacy debt and create a new credit structure and obligated group.  Hawkins healthcare team took the lead in drafting of the disclosure documents that introduced Hackensack Meridian Health to the capital markets and participated in preparation of the master indenture and other transaction documents that established this new credit group, one of the largest and highest rated in the state. 

Role Underwriters' Counsel
Distinction Establishment of One of New Jersey’s Largest Health Care Credit Structures
Issuers New Jersey Health Care Facilities Financing Authority and Hackensack Meridian Health
Issue Size $ 900 Million