By Aaron Hochman-Zimmerman
New York, May 14 - Tucson, Ariz., priced $61.8 million of series 2009 revenue bonds for the University Medical Center Corp. at a true interest cost of 6.6% (Baa1/BBB+/), according to Kevin Burns, medical center chief financial officer.
The bonds carry serial maturities from 2019 to 2024 and term bonds maturing in 2024, 2029 and 2039.
Merrill Lynch & Co. Inc. acted as underwriter for the negotiated deal, which priced Wednesday.
Proceeds will be used to reimburse the medical center for costs related to constructing, equipping, acquiring and expanding health facilities, including Diamond Children's Hospital.
Issuer: Tucson/University Medical Center Corp.
Issue: Series 2009 revenue bonds
| Amount: | $61.8 million
|
| Maturities: | Serial maturities, 2019 to 2024; Term bonds, 2024, 2029, 2039
|
| True interest cost: | 6.6%
|
| Underwriter: | Merrill Lynch & Co. Inc.
|
| Pricing date: | May 13
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
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