Public Finance

King County Public Hospital District No. 2, WA

$39.6 Million
Piper Sandler served as sole manager on EvergreenHealth’s Series 2024 Bonds.
  • EvergreenHealth will utilize the 2024 bond proceeds to fund strategic initiatives and reimburse itself for previous capital expenditures.
  • Piper Sandler structured the 2024 financing to allow EvergreenHealth to achieve its goal of keeping LTGO debt service less than 70% of its maintenance and operations levy while maximizing the amount of proceeds generated.
  • Piper Sandler worked with Evergreen to assemble a robust disclosure package to explain the reasons for the downturn in recent financial performance and outline the steps the District had taken and will take to improve operating results.
  • The detailed disclosure package, including an investor presentation, coupled with Piper Sandler’s extensive investor marketing process resulted in the 2024 issue achieving a cost of funds, including all fees, of 4.57%, locked for 21 years.
  • Piper Sandler has completed eight financings for EvergreenHealth since 2011.   
Sole Manager
Series 2024