Deals 02/03/2021

Loop Capital Markets Serves as Placement Agent for the $37.605 million Washington Health Care Facilities Authority Revenue Bonds, Series 2021 (Seattle Care Cancer Alliance)

On February 3, 2021, the Washington Health Care Facilities Authority (the “Authority”) and Seattle Care Cancer Alliance (“SCCA”) sold its $37.605 million Revenue Bonds, Series 2021 with Loop Capital Markets serving as private placement agent. The Bonds were rated A2 / A+ by Moody’s and Fitch, respectively. Bond proceeds were used to (i) finance, refinance or reimburse a portion of the costs of acquisition, construction, remodeling renovating and equipping of certain health care facilities owned and operated by SCCA, including reimbursing SCCA for a portion of the costs, (ii) redeem all the outstanding the Public Finance Authority’s $36.650 million Taxable Revenue Bonds, Series 2018A (Seattle Proton Center, LLC) and (iii) pay costs of issuance related to the Bonds.

Loop Capital Markets developed a marketing plan catered to SCCA, targeting 35 investors consisting of purchasers of the Series 2018A bonds and top holders of Seattle Cancer Care Alliance’s debt. All nine investors who submitted orders received allotments. Due to strong investor interest, the Firm was able to tighten spreads between 3 and 10 basis points along the curve between pre-pricing and final pricing. The Authority and SCCA achieved an All-In TIC of 2.843% with Net Present Value Savings of $11.813 million.