California Health to price $415 million of Stanford Hospital bonds

By Sheri Kasprzak

New York, May 2 - The California Health Facilities Financing Authority is expected to sell $415 million of series 2012 revenue bonds for Stanford Hospital and Clinics, according to a preliminary official statement.

The deal includes $340 million of series 2012A bonds and $75 million of series 2012B bonds.

The bonds (Aa3/AA-/AA-) will be sold through senior manager Morgan Stanley & Co. LLC. The co-managers are J.P. Morgan Securities LLC and Goldman, Sachs & Co.

The maturity dates have not been set.

Proceeds will be used to finance capital improvements to Stanford Hospital and Clinics properties, as well as to refund existing bonds due in November 2012 and November 2013.

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