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Matrix Announces the Successful Issuance of Shodair Children’s Hospital’s Series 2020A/B Bonds

RICHMOND, VA / BALTIMORE, MD – November 3, 2020 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has served as financial advisor to Montana Children’s Home and Hospital d/b/a Shodair Children’s Hospital (“Shodair”) on the successful issuance of its Series 2020A/B Bonds.  Shodair, located in Helena, Montana, provides pediatric psychiatric care and operates a comprehensive genetics program.

Shodair is the only not-for-profit, dedicated pediatric psychiatric provider in Montana with a robust continuum of care and dedicated inpatient psychiatric beds for children ages 3-18. Shodair’s psychiatric services include inpatient care, day treatment, outpatient, and school-based services, as well as a psychiatric residential treatment facility and therapeutic group home. Their service area includes all of Montana, and in 2019 they served patients from 44 of the state’s 56 counties.

Shodair issued $32,735,000 of tax-exempt Series 2020A Bonds on its own credit, as well as $20,000,000 of tax-exempt Series 2020B Bonds backed by the Montana Board of Investments. Both the Series A/B Bonds were issued through the Montana Facility Finance Authority and were publicly-offered, tax-exempt, fixed rate bonds. The bond issuance will finance the construction of a new 131,676 square foot facility designed to provide an environment of healing. The new design will include 82 private rooms, which will allow Shodair additional flexibility in treating more patients.

Matrix provided financial and municipal advisory services to Shodair, including developing and implementing the financing plan. The transaction was managed by Vasanta Pundarika and Amanda Verner Thompson, both Managing Directors and Co-Heads of Matrix’s Healthcare Investment Banking Group.

Ms. Thompson stated, “Matrix feels very privileged to have been chosen to advise Shodair on the development and implementation of this financing plan. This transaction to finance a new building for Shodair will provide Montana’s kids and families with a facility that will greatly improve the access and quality of the care being delivered.”

Ms. Pundarika added, “We are excited about Shodair’s continued growth as an organization with this new project. It is an integral part of healthcare delivery in Montana and the new building will allow them to treat more patients in an environment dedicated to hope, healing, and safety.”

Amy Christensen of Christensen & Prezeau LLP served as legal counsel to Shodair.