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California Health Facilities plans $500 million bond sale for Sutter
By Sheri Kasprzak
New York, Jan. 6 – The California Health Facilities Financing Authority anticipates selling $500 million of series 2016A revenue bonds for Sutter Health, according to a preliminary official statement.
The bonds (Aa3/AA-/AA-) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager. The co-managers are BofA Merrill Lynch, Sutter Securities Inc. and Siebert Brandford Shank & Co. LLC.
The maturities have not been set.
Proceeds will be used to construct a new replacement hospital at Van Ness Avenue and Geary Boulevard in San Francisco, a new replacement hospital for St. Luke’s Hospital in San Francisco and a replacement hospital for Sutter Santa Rosa Regional Hospital.
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