Northwell Healthcare Inc., the largest healthcare provider in New York, is considering selling up to $800 million of municipal bonds, according to a Friday filing.
The healthcare group anticipates the bonds will be tax exempt and issued through the Dormitory Authority of the State of New York. The structure, tenor and timing are yet to be determined, the filing said.
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The growing nonprofit system has 28 hospitals and over 1,000 outpatient facilities, mostly in New York, according to its website. Last year, the group completed a merger with Nuvance Health and opened its first practice in Pennsylvania.
Year to date, hospitals have issued about $26.7 billion of municipal bonds, according to data compiled by Bloomberg.
Northwell expects Jefferies Financial Group Inc. will serve as bookrunner for the deal, according to the filing. A spokesperson for Northwell did not immediately respond to an emailed request for comment.
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