Mayo Clinic, Minn., prepares $200 million of revenue bonds due 2041

By Sheri Kasprzak

New York, March 22 - The City of Rochester, Minn., plans to price $200 million of series 2012 health care facilities revenue bonds for the Mayo Clinic, according to a preliminary official statement.

The bonds (Aa2/AA/) will be sold on a negotiated basis with Wells Fargo Securities LLC and Bank of America Merrill Lynch as the senior managers.

The bonds are due Nov. 15, 2041.

Proceeds will be used to finance the construction, acquisition and equipment of a proton beam radiation therapy center at the Mayo Clinic-Methodist Hospital, as well as to renovate and construct other properties operated by the clinic.

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