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Providence Health, Wash., arranges $625 million sale of revenue bonds
By Sheri Kasprzak
New York, June 18 - The Washington Health Care Facilities Authority plans to price $625 million of series 2012 revenue bonds for Providence Health & Services, according to a preliminary official statement.
The deal includes $525 million of series 2012A bonds and $100 million of series 2012B bonds.
The bonds (Aa2/AA/AA) will be sold on a negotiated basis. Bank of America Merrill Lynch and Goldman, Sachs & Co. are the senior managers for the 2012A bonds. Bank of America Merrill Lynch is the sole underwriter for the series 2012B bonds.
The maturities have not been set, but the series 2012B bonds will have a single term bond.
Proceeds will be used to refund existing revenue bonds.
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