Missouri Health preps $300 million SSM Health offering of revenue debt

By Sheri Kasprzak

New York, May 6 - The Missouri Health and Educational Facilities Authority is set to price $300 million of series 2014 health facilities variable-rate revenue bonds for SSM Health Care, according to a preliminary official statement.

The offering includes $50 million of series 2014B bonds, $50 million of series 2014C bonds, $50 million of series 2014D bonds, $50 million of series 2014E bonds, $50 million of series 2014F bonds and $50 million of series 2014G bonds.

The bonds (/A+/A-1/AA-/F1+) will be sold on a negotiated basis. Citigroup Global Markets Inc. is the underwriter for the series 2014B-E bonds; Goldman, Sachs & Co. is the underwriter for the 2014B-C bonds; Wells Fargo Securities LLC is the underwriter for the 2014F-G bonds; and Barclays is the underwriter for the 2014G bonds.

The 2014B bonds are due June 1, 2041 and the 2014C bonds are due June 1, 2041. The 2014D bonds are due June 1, 2044 and the 2014E bonds are due June 1, 2044. The 2014F bonds are due June 1, 2044 and the 2014G bonds are due June 1, 2044.

Proceeds will be used to finance capital improvements and restructure existing debt for the health care system.

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