Seattle Cancer Care Alliance
Application Acceptance: December 22, 2020. Please note all information provided below is as of the date of the application submission with the exception of Loan Size & Closing Date.
Obligor: The Seattle Cancer Care Alliance is a cancer treatment center that was formed in 1998 by the Fred Hutchinson Cancer Research Center, The University of Washington and Seattle Children’s Healthcare System for purposes of developing and offering a comprehensive program of integrated cancer care services. SCCA offers a variety of treatment options for malignant and non-malignant oncology diseases to both adult and pediatric patients. The services include, but are not limited to, medical oncology, genetic sequencing, medical imaging, and a variety of other services.
Loan Size: $37,605,000
Description of Loan: Proceeds of the loan will be used to refund the Public Finance Authority Senior Taxable Revenue Bonds, Series 2018A, reimburse or fund all or a portion of various capital projects/expenditures, and to pay costs of issuance.
Interest Cost Savings: Based on current market conditions and assuming the bonds will be issued as fixed-rate debt, SCCA expects to save approximately $4.5 million over the life of the bonds by utilizing tax-exempt financing through the Authority as compared to financing on a non tax-exempt basis.
Placement Agent: Loop Capital
Closing Date: February 11, 2021