Ohio organizes $75 million revenue bond deal for University Hospitals

By Sheri Kasprzak

New York, Oct. 1 – The State of Ohio is set to price $75 million of series 2014 hospital revenue bonds for the University Hospitals Health System, according to a preliminary official statement.

The bonds (A2/A/) will be sold on a negotiated basis. Barclays is the senior manager for the $50 million series 2014A bonds and sole underwriter for the $25 million series 2014B variable-rate bonds. BofA Merrill Lynch is a senior manager for the 2014A bonds. The co-managers for the 2014A bonds are BB&T Capital Markets, Morgan Stanley & Co. LLC, PNC Capital Markets LLC, The Huntington Investment Co. and Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to refund one or more interim loans issued to refund the Parma Community General Hospital Association’s series 2006 bonds and the EMH Regional Medical Center’s series 1997, 2001 and 2008 bonds, as well as to construct, equip, furnish and repair additional hospital facilities within the system.

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