By Sheri Kasprzak
New York, May 12 - The Sisters of St. Francis Health Services in Indiana priced $162.9 million in variable-rate demand bonds on Monday, the issuer's bond counsel said.
The bonds (Aa3) include $81.66 million in series 2008A and $81.3 million in series 2008B bonds. The bonds are due Nov. 1, 2041.
The initial coupon is 2.1%, said David Nie of Ice Miller. The rate will reset on a weekly basis.
The bonds will be sold through the Indiana Finance Authority.
Series 2008A bonds were sold through lead manager Merrill Lynch, and the 2008B were sold through Citigroup Global Markets.
Proceeds will be used to refund prior debt.
| Issuer: | Sisters of St. Francis Health Services/ Indiana Finance Authority
|
| Issue: | Variable-rate demand bonds
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| Amount: | $162.9 million
|
| Type: | Negotiated
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| Maturity: | Nov. 1, 2041
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| Coupon: | 2.1%
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| Price: | Par
|
| Underwriters: | Merrill Lynch (for 2008A); Citigroup Global Markets (for 2008B)
|
| Rating: | Moody's: Aa3
|
| Pricing date: | May 12
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