By Sheri Kasprzak
New York, Aug. 23 - The Fairfax County Industrial Development Authority of Virginia sold $145 million of series 2012C health care revenue bonds for Inova Health System, according to a pricing sheet.
The bonds (Aa2/P1/AA+/A-1+/) were sold through senior manager Morgan Stanley & Co. LLC.
The bonds are due May 15, 2042, and bear interest at the Window Interest Rate plus 8 basis points.
Proceeds will be used to construct a new patient tower, a new women's hospital and a roadway at the Inova Fairfax Hospital; construct, renovate and repair the Inova Mount Vernon Hospital; construct, renovate and equip the Inova Fair Oaks Hospital; and make other repairs and renovations to Inova properties.
| Issuer: | Fairfax County Industrial Development Authority/Inova Health System
|
| Issue: | Series 2012C health care revenue bonds
|
| Amount: | $145 million
|
| Maturity: | May 15, 2042
|
| Coupon: | Window Interest Rate plus 8 bps
|
| Price: | 100
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Ratings: | Aa2/P1
|
| Standard & Poor's: AA+/A-1+
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 23
|
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