By Sheri Kasprzak
New York, Aug. 23 - The Fairfax County Industrial Development Authority of Virginia sold $145 million of series 2012C health care revenue bonds for Inova Health System, according to a pricing sheet.
The bonds (Aa2/P1/AA+/A-1+/) were sold through senior manager Morgan Stanley & Co. LLC.
The bonds are due May 15, 2042, and bear interest at the Window Interest Rate plus 8 basis points.
Proceeds will be used to construct a new patient tower, a new women's hospital and a roadway at the Inova Fairfax Hospital; construct, renovate and repair the Inova Mount Vernon Hospital; construct, renovate and equip the Inova Fair Oaks Hospital; and make other repairs and renovations to Inova properties.
Issuer: | Fairfax County Industrial Development Authority/Inova Health System
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Issue: | Series 2012C health care revenue bonds
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Amount: | $145 million
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Maturity: | May 15, 2042
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Coupon: | Window Interest Rate plus 8 bps
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Price: | 100
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Type: | Negotiated
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Underwriter: | Morgan Stanley & Co. LLC
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Ratings: | Aa2/P1
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Standard & Poor's: AA+/A-1+
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Pricing date: | Aug. 21
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Settlement date: | Aug. 23
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