By Sheri Kasprzak
New York, April 28 – The City of Jacksonville, Fla., hit the market with $125 million of series 2016 health care facilities revenue refunding bonds for the Mayo Clinic, said a pricing sheet.
The bonds (Aa2/A-1+/) were sold through senior managers Wells Fargo Securities LLC and BofA Merrill Lynch.
The bonds are due Nov. 15, 2047 and bear interest at the commercial paper rate.
Proceeds will be used to refund the city’s series 2006 Mayo Clinic revenue bonds.
| Issuer: | City of Jacksonville/Mayo Clinic
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| Issue: | Series 2016 health care facilities revenue refunding bonds
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| Amount: | $125 million
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| Maturity: | Nov. 15, 2047
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| Coupon: | Commercial paper rate
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| Price: | 100
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| Type: | Negotiated
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| Underwriters: | Wells Fargo Securities LLC and BofA Merrill Lynch
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| Ratings: | Moody’s: Aa2
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| Standard & Poor’s: A-1+
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| Pricing date: | April 27
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| Settlement date: | May 3
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