Providence Health and Services to sell $180 million of revenue bonds

By Sheri Kasprzak

New York, Oct. 31 - Providence Health and Services is set to price $180 million of series 2011 revenue bonds in two tranches, said a preliminary official statement.

The offering includes $150 million of series 2011A bonds to be sold through the Alaska Industrial Development and Export Authority and $30 million of series 2011C bonds via the Oregon Facilities Authority.

The maturities have not been set.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Bank of America Merrill Lynch as the lead manager.

Proceeds will be used to make a loan to Providence Health and Services by each issuer to finance or reimburse the health care provider for capital projects, including construction, remodeling and renovations to facilities in Alaska and Oregon.

Based in Spokane, Wash., Providence Health operates hospitals and other health care facilities in California, Oregon, Washington State, Montana and Oregon.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.