JEDA Helps Conway Medical Center Refinance $19.5 Million
August 8, 2012
CONWAY, SC – August 8, 2012 – Conway Medical Center is helping to ensure continued availability of high-quality care on the Grand Strand by refinancing debt through the S.C. Jobs-Economic Development Authority (JEDA).
Conway Hospital Inc., operator of a private, non-profit medical center in the Myrtle Beach area, worked with JEDA to refund the outstanding balance of $19,510,000 in tax-exempt revenue bonds of its Series 1998, proceeds of which were used to expand the center’s 160-bed patient tower in Conway to 210 beds.
“In addition to helping to retain approximately 1,000 jobs our hospital and its sister facilities now provide, this kind of financing at today’s favorable rates leaves us better able to plan our future,” said Phil Clayton, Chief Executive Officer at Conway Medical Center.
About JEDA
For more than 28 years, JEDA has promoted the business and economic welfare of South Carolina by assisting in the financing of public and private projects throughout the Palmetto State. JEDA serves as a statewide conduit issuer of special obligation revenue bonds and acts on behalf of the borrower to access financial markets and capital. Since its creation in 1983, JEDA has facilitated the issuance of 422 bonds for nearly $7.5 billion and resulting in the creation and retention of more than 197,000 jobs.
For more information regarding JEDA, please visit our website at www.scjeda.com or contact Harry A. Huntley, CPA, Executive Director, at (803) 737-0268 or [email protected].
