California Statewide Communities offers $883.17 million bonds

By Sheri Kasprzak

New York, April 11 – The California Statewide Communities Development Authority is slated to price $883,165,000 of series 2016A revenue bonds for the Loma Linda University Medical Center, according to a preliminary official statement.

The bonds (/BB/BB+) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager.

The maturities have not been set.

Proceeds will be used to finance construction projects for 2016, to refinance the university’s series 2014C revenue bonds and to pay capitalized interest through Dec. 31, 2019.

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