Services - The Hospitals & Higher Education Facilities Authority of Philadelphia

The Hospitals and Higher Education Facilities Authority offers a range of financing products to our educational, health and related nonprofit clients:

  • Long-Term Public Issue Bond Financing

    Usually between $10 million and $300 million or more, these traditional fully-amortized term bonds are issued at prevailing market rates. This instrument offers the security of fixed interest rates and the opportunity to fix interest costs.

  • Fixed Rate Short to Intermediate Term Bonds & Notes

    A variation of traditional fixed rate long term bonds, these fully-amortized bonds allow for shorter prepayment provisions thereby retiring the principal over a shorter maturity. These bonds are generally issued for 10-15 years with a 5-8 year prepayment provision. Notes are also available for smaller amounts and shorter timeframes.

  • Variable Rate Composite Bonds

    These bonds feature nominal long-term maturity with daily or weekly interest rate adjustments. Borrowers can take advantage of low short-term rates and later lock in a fixed rate without many of the costs of a new issuance. Available on a pooled basis.

  • Quick Lease Financing Program

    Designed for nonprofit organizations that require short term, tax-exempt lease financing for equipment acquisition. Rapid access to capital for organizations that have short-term equipment capital needs of between $250,000 and $30 million. Available on a pooled basis.

  • Private Placement Financing

    This is a fixed rate program that can be used by all borrowers, but is primarily suited for non-investment grade credits.

  • Capital Asset Pooled Financing

    Similar to the Variable rate composite option, this option provides short term variable rate pooled financing to multiple borrowers each needing smaller loans. It provides for better management of capital expenses and the cost efficient shared cost of issuance.

  • Refunding of Prior Debt

    Often undertaken to benefit from reduced interest rates or to avoid the restrictive covenants or collateral requirements of a prior financing.

We also provide other services, as needed:

  • Educational Seminars and Speakers Bureau Presentations.

    We speak frequently on finance and related healthcare and education topics are provided upon request.

  • Institutional Consultations

    We consult with a wide range of organizations regarding issuance related matters.

Our fees and timeline

Due to our quasi-governmental status and history of financial independence, the Authority is supported solely by transaction fees. All services are delivered without expense to the sponsoring municipality or taxpayer.

While our fees vary by service, each is designed to be highly competitive. We welcome the opportunity to provide your organization with a personalized proposal to meet your unique financing needs. 

We urge all potential borrowers to contact our staff to discuss your needs, timetables, market issues and cost estimates. Most financings can be completed within 90-120 days of application.

We’re here to help with your unique needs

Because situations differ, please contact us before taking any action to consider tax-free financing. We will be happy to provide you with further details, clarification, and applicability regarding your financial plans. It is our business to serve your institution’s needs from the earliest planning stages through the successful completion of a tax-exempt financing.