Tarrant County Cultural Education, Texas, to sell $98.93 million Baylor Health hospital bonds

By Sheri Kasprzak

New York, May 31 - The Tarrant County Cultural Education Facilities Finance Corp. of Texas plans to price $98.925 million of series 2011A hospital revenue bonds for the Baylor Health Care System, said a preliminary official statement.

The bonds (Aa2/AA-) will be sold on a negotiated basis with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the senior managers. The co-managers include Estrada Hinojosa & Co. Inc., Rice Financial Products Co. and Siebert Brandford Shank & Co. LLC.

The maturities have not been set.

Proceeds will be used to construct, equip, acquire and furnish a 95-bed acute care hospital in McKinney, Texas; new operating rooms at the Medical Center in Dallas; the new Samson Cancer Center at the Medical Center in Dallas; other improvements and additions to Baylor Health facilities; and to refund the health care system's series 2006C bonds.

Based in Fort Worth, the corporation provides funding to educational, health care and other nonprofit facilities. Baylor Health is located in Dallas.

© 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.