South Carolina Jobs-Economic Development preps $274.02 million of debt

By Sheri Kasprzak

New York, July 11 - The South Carolina Jobs-Economic Development Authority plans to price $274.02 million of series 2013 hospital refunding and improvement revenue bonds for Palmetto Health, according to a preliminary official statement.

The offering includes $128.03 million of series 2013A bonds, $45.99 million of series 2013B bonds, $50 million of series 2013C-1 bonds and $50 million of series 2013C-2 bonds.

The bonds (Baa1/BBB+/BBB+) will be sold on a negotiated basis with BofA Merrill Lynch as the underwriter.

The maturities have not been set.

Proceeds will be used to finance capital improvements for Palmetto Health and to refund the authority's series 2010A-C revenue bonds.

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