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Geisinger Authority, Pa., preps $112.7 million Geisinger Health deal
By Sheri Kasprzak
New York, Sept. 19 – The Geisinger Authority of Pennsylvania is set to price $112.7 million of series 2014 health system revenue bonds for Geisinger Health System, according to a preliminary official statement.
The offering includes $50 million of series 2014A fixed-rate bonds and $62.7 million of series 2014B floating-rate bonds.
The bonds (Aa2/AA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager for the 2014A bonds and BofA Merrill Lynch as the senior manager for the 2014B bonds. Wells Fargo Securities LLC is the co-manager for both tranches.
The maturities have not been set.
Proceeds will be used to finance capital improvements to the health system.
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