By Aaron Hochman-Zimmerman
New York, Nov. 21 - The Mountain States Health Alliance (Virginia and Tennessee) priced $88 million in hospital revenue bonds (Baa1/BBB+/) on Thursday, according to Marvin Eichhorn of the Alliance.
The issue was upsized from $80 million.
Merrill Lynch acted as underwriter for the bonds maturing between 2009 and 2028.
Yields were seen slightly higher than 7.75%, Eichhorn said.
The proceeds are slated for refinancing debt for respective authorities and financing construction of hospital facilities.
| Issuer: | Mountain States Health Alliance
|
| Amount: | $88 million
|
| Maturities: | 2009 through 2038
|
| Yields: | 7.75% to 8% (non-inclusive)
|
| Pricing date: | Nov. 20
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
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