Altru Health, N.D., organizes $125 million offering of revenue bonds

By Sheri Kasprzak

New York, April 18 - The City of Grand Forks, N.D., plans to price $125 million of series 2012 health care system revenue bonds for Altru Health System Obligated Group, according to a preliminary official statement.

The bonds (Baa1//A-) will be sold on a negotiated basis with Bank of America Merrill Lynch and US Bancorp as the senior managers.

The maturity dates have not been set.

Proceeds will be used to finance capital improvements to Altru's facilities, as well as to refund the obligated group's series 1996A, 1997 and 2010A-B revenue bonds.

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