Dutchess County, N.Y., plans $378.01 million bonds for Health Quest

By Sheri Kasprzak

New York, June 14 – Dutchess County Local Development Corp. of New York is set to price $378.01 million of series 2016 revenue and refunding bonds for Health Quest Systems, Inc., according to a preliminary official statement.

The deal includes $28.01 million of series 2016A revenue refunding bonds and $350 million of series 2016B revenue bonds.

The 2016A bonds are due 2017 to 2037 and the 2016B bonds are due 2021 to 2036 with term bonds due in 2041 and 2046.

The bonds (A3/A-) will be sold on a negotiated basis with BofA Merrill Lynch and Cain Brothers Inc. as the senior managers.

Proceeds will be used to construct, equip, acquire and improve facilities at the health system’s Vassar Brothers Medical Center and to refund the corporation’s series 2007 revenue bonds.

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