Hawkins served as special financing counsel to Henry Ford Health System, a $4.5 billion integrated health care system headquartered in Detroit, Michigan. Henry Ford used the proceeds of the $853 million fixed rate bond issue and $38 million variable rate term loan to finance the acquisition of the operating assets of Allegiance Health, Jackson, Michigan and to refund certain bonds of members of the prior obligated group. The transaction involved the refunding/refinancing of 8 different series of bonds. Attorneys at Hawkins drafted the primary offering documents for the transaction as well as Henry Ford’s amended and restated master trust indenture, which contains limited financial and operating covenants. Hawkins continues to provide ongoing advice and assistance to the Henry Ford Health System Credit Group as needed in connection with all financing matters.
|Client||Henry Ford Health System|
|Distinction||Largest Tax-Exempt Health Care Bond Issue in Michigan in the Last 50 Years|
|Issuer||Michigan Finance Authority|
|Issue Size||$853 Million|