Michigan Finance coordinates $167.89 million of McLaren Health bonds

By Sheri Kasprzak

New York, March 13 – The Michigan Finance Authority is expected to price $167.89 million of series 2015 hospital revenue refunding bonds for McLaren Health Care Inc. during the week of March 16, according to a preliminary official statement.

The bonds (Aa3//AA-) will be sold through J.P. Morgan Securities LLC with Citigroup Global Markets Inc. and PNC Capital Markets LLC as the co-managers.

The deal includes $102,015,000 of series 2015A bonds and $65,875,000 of series 2015B bonds.

The maturities have not been set.

Proceeds will be used to refund the corporation’s series 2005C and 2008A bonds.

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