Banner Health in Arizona plans to price $221.39 million revenue bonds

By Cristal Cody

Springdale, Ark., April 16 - Banner Health plans to price $221.39 million revenue bonds on April 22, a source said Wednesday.

The series 2008A bonds (/AA-/AA-) will price through the Arizona Health Facilities Authority.

Merrill Lynch & Co. is the senior manager, and Morgan Stanley is the co-manager of the negotiated sale.

Proceeds will be used to refinance the outstanding principal of a $224.225 million bridge loan from JPMorgan Chase Bank.

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