Ohio readies $55.83 million sale of University Hospitals revenue bonds

By Sheri Kasprzak

New York, Sept. 21 - The State of Ohio is set to price $55,825,000 of series 2012C hospital revenue bonds for the University Hospitals Health System Inc., according to a preliminary official statement.

The bonds (A2/A/) will be sold on a negotiated basis with Bank of America Merrill Lynch and Barclays as the senior managers. The co-managers are Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC and US Bancorp Inc.

The bonds are due 2020 to 2029 with term bonds due in 2032, 2035, 2039 and 2042.

Proceeds will be used to refund the health system's series 2009B and 2009C-1 revenue bonds.

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