By Sheri Kasprzak
New York, Aug. 2 – The Michigan Finance Authority priced $154.14 million of series 2016 hospital revenue bonds for McLaren Health Care, according to a pricing sheet.
The bonds (Aa3//AA-) were sold through J.P. Morgan Securities LLC.
The bonds are due May 14, 2046 and have a 4.4% coupon priced at par.
Proceeds will be used to construct a new south tower at the hospital’s Port Huron main hospital campus.
| Issuer: | Michigan Finance Authority/McLaren Health Care
|
| Issue: | Series 2016 hospital revenue bonds
|
| Amount: | $154.14 million
|
| Maturity: | May 14, 2046
|
| Coupon: | 4.4%
|
| Price: | Par
|
| Yield: | 4.4%
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Ratings: | Moody’s: Aa3
|
| Fitch: AA-
|
| Pricing date: | July 25
|
| Settlement date: | July 28
|
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