Trinity Health Credit to sell $648.21 million composite issue revenue and refunding bonds

By Sheri Kasprzak

New York, Sept. 27 - The Trinity Health Credit Group is expected to price $648.205 million of series 2011 composite issue revenue and revenue refunding bonds, according to a preliminary official statement.

The deal includes $326.835 million of series 2011MI hospital revenue and refunding bonds issued through the Michigan Finance Authority; $106.635 million of series 2011CA revenue and refunding bonds sold through the California Statewide Communities Development Authority; $14.345 million of series 2011OH revenue bonds sold through Franklin County, Ohio; $62.895 million of series 2011MD revenue and refunding bonds issued through Montgomery County, Md.; and $137.495 million of series 2011IL revenue bonds issued through the Illinois Finance Authority.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Goldman Sachs & Co. and Bank of America Merrill Lynch as the senior managers. Cabrera Capital Markets LLC and Loop Capital Markets LLC are the co-managers for the Illinois bonds only.

The maturities have not been set.

Proceeds will be used to advance or current refund existing debt and to pay for capital improvements to some of the hospital facilities operated by Trinity.

© 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.