By Sheri Kasprzak
New York, July 1 - Avera Health System priced $61.38 million in series 2008C variable-rate demand revenue bonds on Tuesday, said Michael Jost, accountant for the South Dakota Health & Educational Facilities Authority.
The bonds (A1) were sold through the authority on a negotiated basis with Dougherty & Co. and Merrill Lynch as the lead managers.
The initial rate is 1.58%, and the rate resets weekly.
Proceeds will be used to refund the system's outstanding variable-rate debt and to construct, acquire and equip a facility to house a cancer center and outpatient surgery center.
| Issuer: | Avera Health System/ South Dakota Health & Educational Facilities Authority
|
| Issue: | Series 2008C variable-rate demand revenue bonds
|
| Amount: | $61.38 million
|
| Type: | Negotiated
|
| Coupon: | 1.58% (initial, weekly)
|
| Price: | Par
|
| Underwriters: | Dougherty & Co. and Merrill Lynch (leads)
|
| Rating: | Moody's: A1
|
| Pricing date: | July 1
|
© 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.
