JEDA Bond Funding Helps Re-Finance AnMed Health's Expansion
June 16, 2010
ANDERSON, SC – June 16, 2010 – Bond financing facilitated by the South Carolina Jobs-Economic Development Authority (JEDA) has helped AnMed Health better ensure its financial well being as it moves into its second century of service to the Upstate.
The proceeds of the $41.1 million tax-exempt bonds issued this spring were used to refinance at a more favorable rate the balance of a $60.6 million bond issued in 1999 by JEDA for AnMed Health. In 2009, JEDA also issued $220 million in bonds for AnMed Health to finance capital improvements and refinance other bonds.
Originally opened in 1908 as two-story, 25-bed Anderson County Hospital, since 2001 the organization has become the first in the state to install an all-digital mammography system, as well as opened the AnMed Health Rehabilitation Hospital and AnMed Health Women’s and Children’s Hospital, a cancer treatment center and a cardiac diagnostic and rehabilitation facility.
“Over the past decade we have changed our name and again broadened our focus to better meet the expanding medical needs of our dynamic, diverse, growing community. JEDA funding has helped us accomplish this in a fiscally prudent way,” said John A. Miller Jr., CEO of AnMed Health.
“Refinancing like this is a complicated process that results in a simple, satisfying result –better health care for the people of Anderson County and the South Carolina Upstate. We’re pleased we can have some role in this,” said Harry Huntley, executive director of JEDA in Columbia.
About JEDA
For more than25 years, JEDA has promoted the business and economic welfare of South Carolinaby assisting in the financing of public and private projects throughout thePalmetto State. JEDA serves as a statewide conduit issuer of special obligationrevenue bonds and acts on behalf of the borrower to access financial marketsand capital. Since its creation in 1983, JEDA has facilitated the issuance of400 bonds totaling more than $6 billion and resulting in the creation of morethan 25,000 jobs.
For more information regarding JEDA, please visit our website at www.scjeda.comor contact
Harry A. Huntley, CPA, Executive Director, at (803) 737-0268 or [email protected].
