The Centurion Foundation, the nonprofit buyer of Roger Williams Medical Center (pictured) and Our Lady of Fatima Hospital, will pay more in debt service on bonds sold to finance the hospital purchase, even though the value of the bonds has decreased. (Photo by Michael Salerno/Rhode Island Current)
The Centurion Foundation won’t have to raise as much money to buy the Roger Williams Medical Center and Our Lady of Fatima Hospital. But it will pay nearly 20% more down the line due to higher interest rates on its debt.
CharterCARE Health of Rhode Island, Centurion’s newly formed Rhode Island subsidiary, is now eyeing an extra $76 million in debt service on the bonds it plans to sell to purchase the pair of urban, safety net hospitals, according to estimates from Barclays, the bond underwriter, included in an Aug. 14 report, which was obtained by Rhode Island Current…