By Sheri Kasprzak
New York, Oct. 25 - The Geisinger Health System of Pennsylvania sold $115 million of series 2013 taxable bonds, according to a pricing sheet. The deal was downsized from $284.4 million.
The offering includes $65 million of series 2013A bonds and $50 million of series 2013B bonds.
Both bonds are due 2043 and bear interest at the daily rate. The initial liquidity facility expiration date for both bonds is Oct. 31, 2018.
The bonds (Aa2/VMIG 1/AA/A-1+/) were sold through senior managers J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
Proceeds will be used for general corporate purposes.
| Issuer: | Geisinger Health System, Pa.
|
| Issue: | Series 2013 taxable bonds
|
| Amount: | $115 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Wells Fargo Securities LLC (lead), BofA Merrill Lynch (co-manager)
|
| Ratings: | Moody's: Aa2/VMIG 1
|
| Standard & Poor's: AA/A-1+
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 30
|
|
|
| $65 million series 2013A bonds
|
| Maturity | Type | Coupon | Price | Initial Liquidity Facility Expiration
|
| Oct. 1, 2043 | Term | Daily rate | 100 | Oct. 31, 2018
|
|
|
| $50 million series 2013B bonds
|
| Maturity | Type | Coupon | Price | Initial Liquidity Facility Expiration
|
| Oct. 1, 2043 | Term | Daily rate | 100 | Oct. 31 2018
|
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