Tarrant County Cultural, Texas, readies $912.08 million bond offering

By Sheri Kasprzak

New York, April 5 – The Tarrant County Cultural Education Facilities Finance Corp. of Texas is set to price $912.08 million of series 2016 hospital revenue bonds for the Baylor Scott & White Health project on Wednesday, according to a preliminary official statement.

The deal includes $372.08 million of series 2016A tax-exempt bonds and $540 million of series 2016B taxable bonds.

The maturities have not been set.

The bonds (Aa3/AA-) will be sold through senior managers Citigroup Global Markets Inc. and J.P. Morgan Securities LLC. The co-managers are Estrada Hinojosa & Co. Inc. and Siebert Brandford Shank & Co.

Proceeds will be used to construct and equip the corporation’s health facilities, including the emergency room department improvements at the Baylor All Saints Medical Center in Fort Worth, renovations to the Baylor University Medical Center in Dallas and the construction and equipment of a surgical science center at the Scott & White Memorial Hospital in Temple, Texas.

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