Massachusetts Development plans $424.57 million Partners Health bonds

By Sheri Kasprzak

New York, Jan. 10 - The Massachusetts Development Finance Agency is expected to price $424,565,000 of series 2014M revenue bonds for Partners HealthCare System Inc., according to a preliminary official statement.

The deal includes $50 million of series 2014M-1 bonds, $50 million of series 2014M-2 bonds, $74,565,000 of series 2014M-3 bonds and $250 million of series 2014M-4 bonds.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis. J.P. Morgan Securities LLC is an underwriter for the 2014M-3 and 2014M-4 bonds. BofA Merrill Lynch, Barclays, TD Securities Inc. and Wells Fargo Securities LLC are underwriters for the 2014M-4 bonds. U.S. Bancorp Investments Inc. is an underwriter for the 2014M-1 and 2014M-4 bonds. BNY Mellon Capital Markets LLC is an underwriter for the 2014M-2 and 2014M-4 bonds.

The 2014M-1 bonds are due July 1, 2048 and the 2014M-2 bonds are also due July 1, 2048. The 2014M-3 bonds are due July 1, 2038. The 2014M-4 bonds are due 2018 to 2034 with term bonds due in 2039 and 2044.

Proceeds will be used to construct a new building at Brigham Women's Hospital in Boston, replace the Spaulding Rehabilitation Hospital in Charlestown, acquire and install a new revenue management and clinical application system, construct a new power plant for North Shore Medical Center in Salem and make other improvements to the system's facilities.

© 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.