How Fast is UMC Paying Down the EPCH Bond?

UMC has finally posted their audited financials for 2015 and we thought we would take a look at how quickly the El Paso Children’s Hospital Bond was being paid down.  The bond was issued in 2008 for $120.1 million dollars.  Seven years later, care to guess how much money is still owned?   $114.3 million!  That means that UMC has paid down $5.8 million or $.83 million,less than 1 million a year.  At this rate, it will take UMC 145 years to pay off the Children’s Hospital.  Why aren’t they paying this down faster?  Why aren’t they using the rent money from Children’s to help YOU get out of debt?  Next time you see Jim Valenti, why don’t you ask him.

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