By Cristal Cody
Tupelo, Miss., May 23 – Ascension Health Alliance priced an upsized $225 million add-on to its 3.945% senior notes due Nov. 15, 2046 (Aa2/AA+) on Tuesday at a spread of 112 basis points over Treasuries, according to a market source.
The deal was upsized by $5 million.
Morgan Stanley & Co. LLC was the bookrunner.
The company originally sold $700 million of the bonds on April 26, 2016 at spread of Treasuries plus 122 bps. The total outstanding is $925 million.
Ascension Health is a St. Louis-based nonprofit health care system.
| Issuer: | Ascension Health Alliance
|
| Amount: | $225 million reopening
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2046
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Coupon: | 3.945%
|
| Spread: | Treasuries plus 112 bps
|
| Trade date: | May 23
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA+
|
| Total outstanding: | $925 million, including $700 million priced on April 26, 2016 at 122 bps over Treasuries
|
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