State officials are issuing $1.1 billion in bonds to support a number of capital projects at Northwell Health and Hospitals and to help pay off existing debt for the New Hyde Park-based health system.
A $762.8 million bond issue was completed this week, according to the New York Dormitory Authority, a division of the state government that issues bonds and helps finance, design and construct public infrastructure.
Proceeds will go towards a number of previously announced expansion and improvement projects. This includes a $52 million project to double the size of the emergency department at John T. Mather Hospital in Port Jefferson and a renovation of the cardiac catheterization lab at Long Island Jewish Medical Center in New Hyde Park. Included. Northwell said the funding will also help pay for a $468 million expansion of South Shore University Hospital in Bay Shore and a recently completed $560 million surgical building at North Shore University Hospital in Manhasset. That’s what it means.
“DASNY is proud to partner with (Northwell) to provide access to capital financing for projects that cost-effectively enhance the health care services we provide,” DASNY President Robert Rodriguez said in a statement. Ta. “These funding will create an impressive array of services and options for patients and providers.”
Approximately $65 million from the first bond series will be used to repay bonds issued in 2009, DASNY said. The second round of $351 million in bonds will be delivered in February and will be used to refinance bonds issued in 2015, according to DASNY filings.
“The ability to refinance debt is always a good thing because it reduces our operating costs and allows us to put our resources back into the community,” said Matthew Kirshner, vice president of finance. body,” he said.
The first bond is scheduled to mature in 2054, and the second bond is scheduled to mature in 2043, Kirshner said.
Sarina Trangle covers affordability and cost of living issues and other business topics. She previously worked as an editor and reporter at amNewYork.
