BJC and Memorial extend consent solicitation deadline for 2013 bonds

By Wendy Van Sickle

Columbus, Ohio, Oct. 19 – Memorial Group, Inc. has further extended the deadline for its previously announced solicitation of consents from holders of its health facility revenue bonds, series 2013, issued by the Southwestern Illinois Development Authority.

The deadline has been extended to 6 p.m. ET on Nov. 5 from 6 p.m. ET on Oct. 15, according to a notice. The deadline was previously extended three times: from 6 p.m. ET on Oct. 2, from 6 p.m. ET on Sept. 22 and from 6 p.m. ET on Sept. 11.

As previously reported, BJC HealthCare has proposed an affiliation with Memorial Group. In connection with that, BJC has agreed to provide a guaranty of the payment obligations relating to Memorial’s outstanding 2013 bonds. The guaranty is subject to the bondholders approving amendments to the documents for those bonds.

The authority originally issued $163.85 million of the bonds.

Memorial is a medical group based in Belleville, Ill. BJC is a non-profit health care organization based in St. Louis.

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