NJHCFFA ISSUES $56,895,000 TO FUND NEW JERSEY'S
FIRST FULL-SERVICE PEDIATRIC CAMPUS RECEIVES
Children's Specialized Hospital Comes to New Brunswick

(New Brunswick) The New Jersey Health Care Facilities Financing Authority closed a $56,895,000 transaction on behalf of The Children's Specialized Hospital this morning. The proceeds will fund the construction of a new hospital in New Brunswick that will be between and connected to both the Bristol-Myers Squibb Children's Hospital and the Child Health Institute of New Jersey Research Center. The three facilities will collectively create New Jersey's first full service pediatric campus, with research, acute care and rehabilitation all in one location.

Children's Specialized Hospital currently operates a facility in Mountainside, but will relocate 60 pediatric rehabilitation beds from this facility to the new hospital. The Mountainside facility will then be renovated to address the ever-increasing need for Children's Specialized Hospital's outpatient services.

The bonds were structured into two series. The fixed rate Series 2005A bonds received net interest cost of 5.33%. The variable rate Series 2005B received an initial interest rate of 2.55%, to be reset weekly.

The New Jersey Health Care Facilities Financing Authority is the primary issuer of municipal bonds for New Jersey's health care organizations. Created in 1972 by an act of the Legislature to provide not-for-profit health care providers with access to low-cost capital, the Authority's statutory powers were expanded in 1998 to include financing for all health care organizations or components thereof. During its 30+-year history, the Authority has issued over $12 billion in bonds on behalf of over 140 health care organizations throughout the state.

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