Touro Infirmary accepts all tendered Louisiana Public Facilities bonds

By Marisa Wong

Madison, Wis., Sept. 23 - Touro Infirmary announced that it accepted for purchase all series 1999A hospital revenue bonds issued on its behalf by Louisiana Public Facilities Authority that were tendered in an offer that expired at 5 p.m. ET on Sept. 22.

Touro began a tender offer on Aug. 8 for the $56.99 million of outstanding 1999A bonds. The offer was originally scheduled to expire on Sept. 15 but was later extended.

As of the Sept. 22 deadline, holders tendered a total of $23.585 million of the bonds. Specifically, holders tendered $3.385 million of $10.69 million of outstanding bonds due Aug. 15, 2019 and $20.2 million of $46.3 million of outstanding bonds due Aug. 15, 2029.

The tendered bonds due 2019 were purchased at par, and the tendered bonds due 2029 were purchased at 97.

Settlement will occur on Sept. 29.

Bondholder Communications Group is the information and tender agent for the offer.

Touro is New Orleans' sole community-based, not-for-profit and faith-based hospital. The public facilities authority is based in Baton Rouge, La.

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