By Cristal Cody
Tupelo, Miss., Dec. 10 – Mercy Health priced $304.11 million of 4.302% taxable bonds due July 1, 2028 (A2/A+/AA-) at a spread of Treasuries plus 145 basis points on Monday, according to a market source.
J.P. Morgan Securities LLC was the bookrunner.
Proceeds will be used to refund certain outstanding debt from Bon Secours Health Care System, Inc., which combined with Mercy Health in a merger in September.
Mercy Health is a Cincinnati-based health care company.
| Issuer: | Mercy Health
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| Amount: | $304.11 million
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| Description: | Series 2018A taxable bonds
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| Maturity: | July 1, 2028
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| Bookrunner: | J.P. Morgan Securities LLC
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| Coupon: | 4.302%
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| Spread: | Treasuries plus 145 bps
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| Trade date: | Dec. 10
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| Ratings: | Moody’s: A2
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| S&P: A+
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| Fitch: AA-
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