NYU Hospitals Center preps for $350 million taxable bond offering

By Cristal Cody

Tupelo, Miss., July 19 - NYU Hospitals Center intends to price $350 million of series 2013A taxable bonds (A3/A-/A-), according to a preliminary offering memorandum.

BofA Merrill Lynch and J.P. Morgan Securities Inc. are the lead managers of the negotiated sale. Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the co-managers.

The Manhattan teaching hospital plans to use the proceeds to pay for construction, renovation and equipment costs, to repay outstanding lines of credit and for working capital and other corporate purposes.

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