Massachusetts Health to sell $200 million bonds for Partners HealthCare

By Sheri Kasprzak

New York, April 29 - The Massachusetts Health and Educational Facilities Authority is expected to sell $200 million in series 2009I revenue bonds for Partners HealthCare System, according to a preliminary official statement.

The sale includes $50 million in series 2009I-1 bonds, $50 million in series 2009I-2 bonds (//AA/F1+) and $100 million in series 2009I-3 bonds (//AA).

The series I-1 bonds are due July 1, 2044 and bear interest at the weekly rate mode. The series I-2 bonds are also due July 1, 2044 and also bear interest at the weekly mode. The series I-3 bonds are due 2013 through 2022 with a term bond.

J.P. Morgan Securities Inc. and Merrill Lynch & Co. Inc. are the lead managers for the negotiated sale.

Proceeds will be used to construct ambulatory care centers at two of the system's hospitals.

Boston-based Partners operates six acute care hospitals and four specialty hospitals.

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