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Arizona Health prepares $252.24 million sale of Banner Health bonds
By Sheri Kasprzak
New York, Oct. 12 - The Arizona Health Facilities Authority plans to sell $252.24 million of series 2012 revenue bonds for Banner Health, according to a preliminary official statement.
The offering includes $184.03 million of series 2012A tax-exempt bonds and $68.21 million of series 2012B taxable bonds.
The bonds (/AA-/AA-) will be sold on a negotiated basis with Bank of America Merrill Lynch and Morgan Stanley & Co. LLC.
The maturities have not been set.
Proceeds will be used to construct a new patient tower, two parking garages, a cardiac wing, a neonatal intensive care unit and operating rooms at the Banner Estrella Medical Center in Phoenix and the construction of two shelled floors at the Banner Baywood Medical Center in Mesa, as well as to refund existing debt.
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