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Arizona Health to sell $397.085 million bonds Sept. 18 for Banner
By Sheri Kasprzak
New York, Sept. 11 - The Arizona Health Facilities Authority plans to price $397.085 million in series 2008 revenue bonds for Banner Health on Sept. 18, a sellside source confirmed with Prospect News Thursday.
The bonds (//AA+/F1+) will be sold on a negotiated basis with Merrill Lynch as the senior manager for the series 2008E and 2008H bonds and Morgan Stanley as the lead manager for the series 2008F and 2008G bonds.
The sale includes $124.195 million in series 2008E bonds, $101.89 million in series 2008F bonds, $96 million in series 2008G bonds and $75 million in series 2008H bonds.
The bonds bear interest initially at the weekly rate, but may be converted to a daily, short-term, long-term or fixed-rate mode.
Proceeds will be used to refund and redeem the authority's series 2005A revenue bonds.
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