Industrial Development Authority, Fairfax County, Va., to sell $550 million bonds for Inova Health

By Aaron Hochman-Zimmerman

New York, April 1 - Industrial Development Authority of Fairfax County in Virginia plans to issue $550 million in health care revenue bonds on behalf of the Inova Health System, according to a preliminary offering statement.

The bonds will come in two tranches.

The authority plans to price $360 million of series 2009A serial bonds and $190 million of series 2009B term bonds.

Citigroup Global Markets Inc. will act as lead underwriter for the negotiated deals.

Proceeds from the sale will be loaned to the Inova Health System.

The Industrial Development Authority is located in Fairfax, Va.

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