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Avera Health of South Dakota to price $252.735 million in revenue bonds on June 18, July 1
By Sheri Kasprzak
New York, June 2 - Avera Health of South Dakota plans sell $252.735 million in series 2008 revenue bonds in three sales set in June and early July, said a sellsider connected to the deal Monday.
The sale includes $139.92 million in series 2008A variable-rate demand bonds, $51.435 million in series 2008B fixed-rate bonds and $61.38 million in series 2008C variable-rate demand bonds.
The bonds (A1) will be sold through the South Dakota Health & Education Facilities Authority.
The 2008A and 2008B bonds are expected to price on June 18 and the 2008C bonds on July 1, the sellsider said.
"Those are the dates we've set," said the source. "We're, of course, looking at the market conditions, so those could change."
The bonds will be sold on a negotiated basis with Dougherty & Co. and Merrill Lynch as the senior managers.
Proceeds will refund all of the system's outstanding variable-rate debt and pay for the construction, acquisition and equipment of a new facility to house a cancer center and an outpatient surgery center.
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