Christus Health, La. and Texas, to sell $398.98 million bonds Friday

By Sheri Kasprzak

New York, Dec. 17 - Christus Health plans to price its previously announced $398.975 million in series 2008 variable-rate revenue refunding bonds on Friday, an issuer source said Wednesday.

The sale includes $268.56 million in series 2008C-1 through 2008C-5 bonds being sold through the Tarrant County Cultural Education Facilities Finance Corp. in Texas and $130.415 million in series 2008D-1 through 2008D-2 bonds being sold through the Louisiana Public Facilities Authority.

The bonds will be sold on a negotiated basis with Citigroup Global Markets as senior manager for the series 2008C-1, 2008C-2 and 2008D-1 bonds; Merrill Lynch & Co. as the lead manager for the 2008C-5 bonds; Banc of America Securities LLC as lead manager for the 2008C-3 and 2008C-4 bonds; and Goldman, Sachs & Co. as the lead manager for the series 2008D-2 bonds.

The 2008C-1 through 2008C-4 bonds are due July 1, 2047, and the 2008C-5 bonds are due July 1, 2031. The 2008D-1 and 2008D-2 bonds are due July 1, 2031.

Proceeds from the 2008C bonds will be used to refund the Harris County Health Facilities Development Corp.'s series 2005A revenue bonds and Tarrant County Cultural Education Facilities Authority's series 2007A revenue bonds. Proceeds from the 2008D bonds will be used to refund the Louisiana Public Facilities Authority's series 2005C-2 revenue bonds.

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