By Sheri Kasprzak
New York, March 21 - The Memorial Hermann Healthcare System priced $184.8 million in variable-rate health care revenue bonds on Thursday, according to a final official statement released Friday.
The bonds (A2) were sold through the Harris County Health Facilities Development Corp. in Texas on a negotiated basis through lead manager Bear, Stearns & Co. The bonds are due June 1, 2027.
The bonds reset at the weekly rate, according to the official statement.
Sources close to the offering originally said the deal was set to price March 28. Calls to the system for clarification were not immediately returned.
Proceeds will be used to refund the system's series 1998 bonds.
| Issuer: | Memorial Hermann Healthcare System
|
| Issue: | Variable-rate health care revenue bonds
|
| Amount: | $184.8 million
|
| Type: | Negotiated
|
| Maturity: | June 1, 2027
|
| Coupon: | Weekly rate
|
| Price: | Par
|
| Ratings: | Moody's: A2
|
| Underwriter: | Bear, Stearns & Co.
|
| Pricing date: | March 20
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
