Faith Regional Health Services in Norfolk, Neb., is refinancing some of its bonds and expects to save $14 million over the life of the bonds due to lower interest rates, according to the Norfolk Daily News.
Faith Regional CFO John Wilker said the hospital will save nearly $1 million per year in interest payments over the remaining life of the bonds, which were originally issued to pay for capital improvements, according to the report.
The hospital plans to use the savings on equipment as well as facility expansions and improvements.
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