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Published on 10/29/2009 in the Prospect News Municipals Daily.

Allina Health System, Minn., tenders for $111.9 million revenue bonds

By Jennifer Chiou

New York, Oct. 29 - The Minneapolis and the Housing and Redevelopment Authority of the City of St. Paul held a tender offer for the $111.9 million of series 1998A variable-rate demand revenue bonds of Allina Health System.

The offer affected the $37.3 million of tranche I bonds due Aug. 1, 2028, $37.3 million of tranche II bonds due Aug. 1, 2027 and the $37.3 million of tranche III bonds due Aug. 1, 2028.

The authority said it would pay 93% of par plus accrued interest.

The offer was set to end at 5 p.m. ET on Oct. 28, with settlement on Nov. 10.

Bondholder Communications Group LLC was the information and tender agent (212 809-2663).

The bonds were initially issued as Periodic Auction Reset Securities.

Allina Health is based in Minneapolis.


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