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News Release: Hammond Hanlon Camp LLC Advises Phoebe Putney Health System on the Remarketing of $187,870,000 of Refunding Revenue Anticipation Certificates

SAN DIEGO—August 28, 2015—Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to Phoebe Putney Health System (“Phoebe Putney”), based in Albany, Georgia, in connection with the remarketing of $187,870,000 of its Refunding Revenue Anticipation Certificates, Series 2008A and 2008B (“Series 2008 Bonds”), and Revenue Anticipation Certificates, Series 2010A (“Series 2010 Bonds”).

As its Strategic Capital Manager, H2C constantly evaluates Phoebe Putney’s debt portfolio, financing alternatives and market conditions for opportunities to improve its capital structure as well as reduce its overall cost of debt. After identifying an opportunity for savings, H2C worked with Phoebe Putney management to remarket the Series 2008 and 2010 Bonds while also mitigating its refinancing risk and diversifying its bank exposure.

Through an RFP process with pre-defined, comprehensive terms, H2C secured credit commitments from national, regional and community banks. After detailed negotiations, Phoebe Putney selected three well-capitalized banks as credit providers and partners for its long-term banking needs. The robust financing process and attractive variable rate private placement market created significant improvements in Phoebe Putney’s cost of debt and terms. In addition to significant interest cost savings, Phoebe Putney reduced its risk profile by staggering its terms to five, seven and ten years and diversifying its credit relationships to three banks.

“H2C’s leadership was invaluable to Phoebe Putney throughout our financing. Despite a complicated structure and short deadline, H2C orchestrated a seamless process, working with several banks to deliver optimal savings and financial flexibility,” said Kerry Loudermilk, Chief Financial Officer of Phoebe Putney Health System.

“Phoebe Putney’s financing capitalizes on today’s competitive market for variable rate private placements. H2C continues to assist its clients in achieving significant interest savings and better than anticipated financial terms,” stated William B. Hanlon III, Principal, Hammond Hanlon Camp LLC.

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