CHFFA Commercial Paper Program

CHFFA Commercial Paper Program is sponsored by State Treasurer's Office. This program will provide a borrower with access to low interest rate capital markets through the issuance of tax-exempt and taxable commercial paper notes.

Eligibility General Requirements -Must be a health facility as defined in the Authority's Act (Section 15432(d) of the California Government Code) -Must be a non-profit 501(c)(3) corporation or public health facility (e.g., district hospital) as defined in the Authority's Act (Section 15432(e) of the California Government Code) -Must have been in existence for at least three years, providing the same types of services -Must demonstrate evidence of fiscal soundness and the ability to meet the terms of the proposed loan Use of Funds Funds may be used for: -Construction, remodeling, renovation, and/or improvements -Land acquisition -Acquisition of existing health facilities -Equipment and/or furnishings -Refunding of prior debt -Working capital for start-up facilities -Costs of bond issuances, feasibility studies & reimbursement of prior expenditures Loan Terms -Any commercial paper issued by Authority must receive short-term rating of at least A-1/P-1/F-1 by at least one nationally recognized rating agency -Must be issued in denominations of $100,000 -Final maturity date cannot exceed 40 years -Commercial paper application must include a detailed description of capital projects to be funded by proceeds Fees -No application fee -Initial fee of 0.

05% of the issue amount (maximum $100,000) -Annual administrative fee; greater of $5,000 or 0. 0175% of the maximum amount of notes outstanding during the billing year Required Documentation -Three most recent fiscal years of audited financial statements

CHFFA Bond Financing Program Home ->> CHFFA ->> Bond Financing Program Provides the issuance of low-interest, tax-exempt and taxable revenue bonds for the construction and acquisition of health care facilities and projects. If you have any questions about the Bond Financing program, please contact CHFFA .

Please note that for Cal-Mortgage insured transactions, borrowers may not issue during the state's blackout periods, roughly December 1 through January 10 and from May 1 through the date of the enactment of the State budget. This program provides non-profit health facilities access to low interest rate capital markets through the issuance of tax-exempt and taxable revenue bonds.

Eligible borrowers may use proceeds from the sale of bonds for: Construction/renovation projects Land acquisition for future projects Acquisition of existing health facilities Refinancing of existing debt Direct/Private Placements Flexibility of Financing Structure CHFFA has extensive experience issuing bonds and other forms of indebtedness in both public offerings and direct placements using a variety of structures, including multi-modal indentures, master indentures, master loan agreements, deeds of trust and other security documents, and other financing structures (including forward delivery).

The depth of experience of CHFFA staff has made the agency well positioned to consider innovative financing techniques. The Bond Financing Program fees such as the Initial Fee and Annual Administration Fee can be submitted via CHFFA’s Electronic Payment System (“EPS”). Disclosure: By clicking on the link above, you will be leaving CHFFA’s website and entering First Data’s website.

First Data is not affiliated with CHFFA and CHFFA is NOT responsible for the contents or links contained on their website. CHFFA recommends that you read and evaluate First Data's security and confidentiality statements. Information required to make a payment: Recently Approved Bond Projects: Cedars-Sinai Health System Lucile Packard Children’s Hospital