$600 Million Debt Financing for Covenant Health

We served as bond counsel and borrower counsel to Covenant Health in connection with the issuance of over $600 million in taxable and tax-exempt debt to finance and refinance its healthcare facilities in eight counties in Tennessee. The nonprofit healthcare system was able to refinance all of its privately held debt and issue new debt, all at historically low interest rates. The debt was simultaneously issued in seven different series and privately placed with four different banks. In connection with the financing, we also assisted Covenant in capitalizing on the current borrower-friendly market conditions by completely restating and modernizing its master trust indenture, resulting in very favorable terms relating to its financial covenants and issuances of new debt in the future.

You Also May Be Interested In:

  • Creation of the corporate structure for Mosaic Changemakers – our team helped the new organization obtain tax exempt nonprofit status and transfer the program to a new entity, and provided advice for formation and business practices

    Our pro bono team worked with Renata Soto, Senior Fellow at the Harvard University Advanced Leadership Initiative and co-founder and...
    Client Type: Pro Bono
  • Served as bond counsel to Emerald Academy in connection with a tax exempt bond issue

    A team of Bass, Berry & Sims attorneys from the Knoxville office served as bond counsel to Emerald Academy in...
    Client Type: Nonprofit, Pro Bono
  • Represented the Metro Nashville Sports Authority as bond counsel in connection with the issuance of $225 million of bonds in December 2020 to finance the construction of the new Major League Soccer (MLS) Stadium at the Nashville Fairgrounds

    We represented the Metro Nashville Sports Authority as bond counsel in connection with the issuance of $225 million of bonds...
    Client Type: Government