Partners HealthCare, Mass., to make $45 million bids on F-1, G-2 bonds

By Tali Rackner

Norfolk, Va., Dec. 29 – Partners HealthCare System, Inc. will make $15 million of bids on its $75 million series F-1 (2005) revenue bonds and $30 million of bids on its $75 million series G-2 (2007) revenue bonds at rates no less than Sifma, according to a notice.

The bonds were priced through Massachusetts Health and Educational Facilities Authority in 2005 and 2007, respectively.

The F-1 bids will be made at auctions on Tuesday, and the G-2 bids will be made at auctions on Wednesday.

Partners HealthCare said it hopes to obtain a lower interest rate on the bonds through the bid procedure.

Recent auctions

Partners made bids for the F-1 bonds on Dec. 23 and G-2 bonds on Dec. 24.

For the F-1 bonds, there were seven bids for a total of $86.9 million. The clearing rate was 0.3%. The high bid was 0.75%, the low was 0.3%, and the median was 0.33%. The amount sold was $360,000.

For the G-2 bonds, there were six bids for a total of $104.06 million. The clearing rate was 0.33%. The high bid was 0.75%, the low was 0.27%, and the median was 0.49%. The amount sold was $12.56 million.

Partners HealthCare is a Boston-based operator of acute-care and specialty hospitals. The authority, also based in Boston, provides financing to the state's nonprofit organizations.

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