Ohio to sell $175 million revenue bonds for Summa Health on Wednesday

By Sheri Kasprzak

New York, April 23 - The State of Ohio is set to sell $175 million in series 2010 hospital facilities revenue bonds for Summa Health System on Wednesday, according to a sales calendar.

The bonds (Baa1//BBB+) will be sold through J.P. Morgan Securities Inc. and PNC Capital Markets LLC.

The bonds are due 2025, 2030, 2035 and 2040.

Proceeds will be used to fund the construction of a trauma center at Summa Akron City Hospital and the renovation of a patient tower at the Summa Wadsworth-Rittman campus, to refinance the construction of a parking garage at Summa Akron Hospital and to finance improvements at a variety of Summa Health hospitals in Ohio.

Based in Akron, Ohio, Summa Health operates hospitals.

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