Fairfax County, Va., to sell $350 million of revenue bonds for Inova

By Cristal Cody

Tupelo, Miss., July 20 - The Industrial Development Authority of Fairfax County in Virginia plans to price $350 million of health care revenue bonds (expected ratings of Aa2/AA+/) for Inova Health System, according to a preliminary official statement.

The deal includes $290 million of series 2012A bonds and $60 million of series 2012B bonds.

Morgan Stanley & Co. LLC is the senior manager of the negotiated sale. Co-managers are Citigroup Global Markets Inc., TD Securities (USA) LLC, BB&T Capital Markets LLC, Raymond James/Morgan Keegan and Edward D. Jones & Co. LP.

Proceeds will be used to finance new hospital additions.

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