California Health to price $100 million in bonds for Scripps Health

By Sheri Kasprzak

New York, Jan. 28 - The California Health Facilities Finance Authority is set to sell $100 million in series 2010 variable-rate revenue bonds for Scripps Health in two tranches, according to preliminary official statements.

The offering includes $60 million in series 2010B bonds and $40 million in series 2010C bonds.

The bonds (Aaa/VMIG 1/AAA/A-1+/) will be sold on a negotiated basis. J.P. Morgan Securities Inc. is the senior manager for the 2010B bonds and Barclays Capital Inc. is the lead manager for the 2010C bonds.

Both bonds are due 2040.

Proceeds will be used to fund construction costs at Scripps-owned hospital facilities.

Scripps Health is based in San Diego.

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