Hospitals and Other Nonprofits

Miller Canfield serves as bond counsel for hospitals and other nonprofit corporations, helping these organizations with all of their capital needs. We are experienced in a wide range of structures and products, including fixed rate, variable rate and auction rate structures, letters of credit, municipal bond insurance, standby bond purchase agreements and interest rate swap agreements. 

Hospitals

Miller Canfield attorneys have worked in the area of healthcare finance for more than 50 years as bond counsel, underwriter’s counsel, borrower’s counsel, or issuer’s counsel, helping all types of organizations with their financing needs.

• Multi-state organizations
• Multi-hospital systems
• Critical-access hospitals
• Skilled nursing facilities
• General acute or rehabilitation hospitals

We have experience with virtually every type of financing structure used in the marketplace, from traditional fixed-rate financings, variable and multi-modal structures involving various forms of liquidity and credit to draw down structures, bank loans and direct purchases. Our attorneys also have worked extensively with credit pooling structures including obligated group and credit group financings involving a variety of master trust indentures, guaranty arrangements, interest rate swaps and other types of derivatives.

Senior Living Facilities

Miller Canfield’s public finance team works regularly with senior living facilities in assisting them in obtaining capital for their financing needs. We most frequently serve as bond counsel and underwriter’s counsel in senior living financings. We have experience in a wide array of financing structures including:

• Master trust indentures
• Fixed and variable rate transactions
• Public offerings, private placements and direct purchases
• New money and refunding
• Interest rate swaps and other derivatives

Our broad experience in this area allows us to provide creative solutions to fit the needs of each borrower while maintaining the flexibility for future financing or refinancing needs. We also have a great understanding of the various rules associated with tax-exempt financings in order to assist borrowers in maintaining the tax-exempt status of the financing to maturity.

Museums and Cultural Facilities

Our vast experience in exempt financing and charitable giving allows us to effectively and efficiently assist museums and cultural institutions in accessing the capital markets while maintaining the flexibility such institutions require for fundraising and capital donations.

Our lawyers have the capability of serving as bond counsel, borrower’s counsel or purchaser’s counsel in a wide variety of financing structures, from fixed-rate, variable rate and multi-modal structures involving various forms of liquidity and credit support to draw down structures, bank loans and direct purchases.