Cleveland clinic swap deal saves cash, raises hackles

Reynolds, Katherine M.
January 1998
Bond Buyer;01/20/98, Vol. 323 Issue 30313, p1
Trade Publication
Reports on the interest rate swaps involving Meridia Health System under which the counterparty would pay the floating rate on variable-rate refunding bonds issued by Cleveland Clinic and received a fixed rate from the clinic. Savings earned from the deal by Meridia Health System; Reasons why Ambac Financial Group Inc. won the competitive bidding; Other bidders on the swaps; Bidders' criticisms of the deal.


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