Geisinger Authority, Pa., to price $100 million revenue bonds for Geisinger Health System

By Sheri Kasprzak

New York, May 12 - The Geisinger Authority of Pennsylvania is expected to price $100 million of series 2011A health system revenue bonds for the Geisinger Health System, according to a preliminary official statement.

The bonds (Aa2/AA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the lead manager. The co-managers are Wells Fargo Securities LLC and PNC Capital Markets LLC.

The maturities have not been set.

Proceeds will be used to finance or reimburse the costs of capital improvements at Geisinger Health facilities.

The authority, based in Danville, Pa., owns, operates, finances and constructs hospitals. The Geisinger Health System is also located in Danville.

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