By Sheri Kasprzak
New York, March 9 – The Michigan Finance Authority sold $100 million of series 2015MI hospital revenue bonds for Trinity Health Credit Group, according to an official statement.
The bonds (Aa3/AA-/AA) were sold through BofA Merrill Lynch.
The bonds are due Dec. 1, 2039 and bear interest at one-month Libor plus 54 basis points priced at par.
Proceeds will be used to finance or refinance capital projects for the group’s Michigan facilities.
| Issuer: | Michigan Finance Authority/Trinity Health Credit Group
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| Issue: | Series 2015MI hospital revenue bonds
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| Amount: | $100 million
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| Maturity: | Dec. 1, 2039
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| Coupon: | One-month Libor plus 54 bps
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| Price: | 100
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| Type: | Negotiated
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| Underwriter: | BofA Merrill Lynch
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| Ratings: | Moody’s: Aa3
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| Standard & Poor’s: AA-
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| Fitch: AA
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| Pricing date: | March 5
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| Settlement date: | March 12
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