California development to sell $1.6 billion bonds for Kaiser Permanente

By Sheri Kasprzak

New York, May 13 - The California Statewide Communities Development Authority is set to price $1.6 billion in series 2009 revenue bonds for Kaiser Permanente, according to a preliminary official statement.

The sale includes $750 million in series 2009A bonds and $850 million in series B through E bonds. The exact breakdown of the series B through E bonds has not been determined.

The maturities have not been set.

Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are the lead managers. The co-manager is Goldman, Sachs & Co.

Proceeds will be used to renovate, construct, acquire and equip Kaiser hospitals, as well as to reimburse Kaiser for equipment acquisitions and capital expenses.

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