As described in a previous publication,1 the 2017 Tax Cuts and Jobs Act eliminated advance refundings on a tax-exempt basis (see sidebar).
Marek Kowalewski has been a member of Kaufman Hall’s Treasury and Capital Markets practice since 2010. He works with healthcare organizations nationwide, providing financial advisory services in the areas of fixed and variable bond financings, private bank negotiations, interest rate swaps, capital structure strategy, and credit positioning. He also has extensive experience advising organizations on merger and acquisition activities, with a focus on rationalizing and consolidating borrowing platforms. Marek has worked with a wide range of healthcare organizations, including national systems, academic medical centers, regional health systems, stand-alone hospitals, and children’s hospitals.
Marek’s experience in advising healthcare organizations on debt financing is approaching $10 billion in total borrowing across multiple markets and products, including tax-exempt and taxable fixed-rate bonds, bank loans, private placements, VRDOs, Floating Rate Notes, Commercial Paper, and Tender Bonds. He earned a B.A. in Economics from the University of Chicago and holds the Chartered Financial Analyst® designation.