Covenant Health starts cash tender offer for 2002D bonds issued by Knox County, Tenn., board

By Marisa Wong

Madison, Wis., March 4 - Covenant Health said it is offering to purchase for cash all of the Health, Educational and Housing Facility Board of the County of Knox, Tenn.'s Covenant Health hospital revenue refunding and improvement bonds, series 2002D.

The tender offer will expire at 5 p.m. ET on March 18.

Covenant Health has set the offer price at $850 per $1,000 principal amount.

Bonds accepted for purchase will be purchased on March 24.

Affected are the following bonds:

• $66.05 million of 2002D-1 bonds due Jan. 1, 2033;

• $65 million of 2002D-2 bonds due Jan. 1, 2033;

• $35 million of 2002D-3 bonds due Jan. 1, 2033;

• $35 million of 2002D-4 bonds due Jan. 1, 2033; and

• $28.65 million of 2002D-5 bonds due Jan. 1, 2023.

Citigroup Global Markets Inc. is the dealer agent.

Covenant Health is a Knoxville, Tenn.-based health system serving eastern Tennessee.

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