CareGroup to price $538.455 million bonds May 21

By Cristal Cody

Springdale, Ark., May 14 - CareGroup Inc. pushed back the pricing date for $538.455 million of revenue and refunding bonds to May 21, a sell-side source said Wednesday.

The series 2008 bonds (A3) will price through the Massachusetts Health & Educational Facilities Authority. The bonds had been scheduled to price this week.

Citigroup Global Markets is the senior manager of the negotiated sale.

Proceeds will be used to provide $150 million of new money for capital projects at the system's four hospitals. The proceeds also will be used to refund the $61.7 million of series 1992G2; $4 million of series 1996H1; $9.2 million of series 1996H2; $3.8 million of series 1993F; $35 million of series 1998B1; $40 million of series 1998B2 bonds; $68.575 million of series 2004C1; $69.5 million of series 2004C2 and $49.05 million of series 2004D bonds.

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