Catholic Health to sell $300 million bonds in Colorado, Ohio, Tennessee Wednesday

By Cristal Cody

Tupelo, Miss., Oct. 31 - Catholic Health Initiatives expects to price $300 million in revenue bonds (Aa2/AA/AA) in Colorado, Ohio and Tennessee on Wednesday, a source told Prospect News.

The sale includes $210 million series 2008D revenue bonds through the Colorado Health Facilities Authority, $65 million series 2008D revenue bonds through Montgomery County, Ohio, and $25 million series 2008D revenue bonds through the Health, Educational and Housing Facility Board of the City of Chattanooga, Tenn.

The Colorado bonds have serial maturities from 2014 through 2018 and terms due in 2022, 2028 and 2034.

The Ohio and Tennessee bonds have serial maturities from 2009 through 2018 and terms due in 2022, 2028 and 2034.

J.P. Morgan Securities Inc. is the senior manager of the negotiated sale, and Morgan Stanley & Co. Inc. is the co-manager.

Proceeds will be used to finance or refinance capital improvements and fund equipment acquisitions at Catholic Health facilities in Colorado, Iowa, Nebraska, Minnesota, New Jersey, Oregon, Ohio and Tennessee.

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