St. Charles Health places $111.75 million; United Illuminating issues $50 million notes

By Lisa Kerner

Charlotte, N.C., July 1 – St. Charles Health System, Inc., formerly known as Cascade Healthcare Community, Inc., announced it issued $111.75 million of 4.42% senior notes due 2038 on Tuesday.

Proceeds were used to defease the series 2008 hospital revenue refunding bonds issued by the Hospital Facility Authority of Deschutes County, Ore., also on Tuesday.

Purchasers include Teachers Insurance and Annuity Association of America and Athene Annuity and Life Co.

St. Charles Health System is a four-hospital network and health-care company based in Bend, Ore.

United Illuminating Co., a subsidiary of UIL Holdings Corp., sold $50 million of 4.61% senior notes, series G, due 2045 to John Hancock Life Insurance Co. (U.S.A.) and some affiliates on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The notes have a make-whole call at Treasuries plus 50 basis points.

United Illuminating is a New Haven, Conn.-based electric transmission and distribution utility.

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