Bon Secours Health arranges $300 million composite issue revenue bonds

By Sheri Kasprzak

New York, Dec. 11 - The Bon Secours Health System Obligated Group is expected to price $300 million of composite issue revenue bonds, according to a preliminary official statement.

The bonds (A3/A-/A-) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as the senior managers and PNC Capital Markets LLC as the co-manager.

The offering includes $40 million of series 2013 revenue bonds through the City of Russell, Ky.; $185 million of series 2013 revenue bonds through the South Carolina Jobs - Economic Development Authority; $55 million of series 2013 revenue bonds through the Economic Development Authority of Henrico County, Va.; and $20 million of series 2013 revenue bonds through the Economic Development Authority of the City of Norfolk, Va.

The maturities have not been set.

Proceeds will be used to refund series 2002A revenue bonds issued through Russell, South Carolina Jobs and Henrico County and series 1997 revenue bonds issued through Norfolk.

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