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Philadelphia Health and Higher Education plans $318.18 million of Temple University bonds
By Sheri Kasprzak
New York, May 29 - The Health and Higher Education Facilities Authority of the City of Philadelphia is expected to sell $318.18 million of series 2012 hospital revenue bonds for the Temple University Health System Obligated Group, according to a preliminary official statement.
The deal includes $220.95 million of series 2012A revenue bonds and $97.23 million of series 2012B refunding bonds.
The bonds (Ba1/BBB-/BBB-) will be sold through Morgan Stanley & Co. LLC and Barclays Capital Inc. The co-manager is PNC Bank, NA.
The maturities have not been set.
Proceeds will be used to finance capital projects for the obligated group and to refund existing debt.
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