Pennsylvania launched a loan program to lower hospitals' borrowing costs for capital improvements by bundling several hospital projects into composite bond offerings, thus spreading fixed issuance expenses over several participants. The state treasury department invested $50 million in the Hospital Enhancement Loan Program and will use a competitive evaluation process to select technology and facility-improvement projects for participation. The minimum loan will be $3 million, with no maximum. The department expects to issue two composite bond offerings in 2006. -- by Cinda Becker
Pa. program to reduce hospitals' borrowing costs
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