Jefferson Health System, Pa., to price $355 million bonds Tuesday

By Sheri Kasprzak

New York, June 25 - The Chester County Health and Education Facilities Authority and Hospitals and Higher Education Facilities Authority of Philadelphia are planning to price $355 million in series 2010 health system revenue bonds for the Jefferson Health System on Tuesday, according to a calendar of imminent sales.

The offering includes $165 million in series 2010A bonds and $190 million in series 2010B bonds.

The bonds (Aa3/AA/AA) will be sold through senior manager Citigroup Global Markets Inc. The co-managers are J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Goldman, Sachs & Co., RBC Capital Markets Corp. and Wells Fargo Securities Inc.

The 2010A bonds are due 2011 to 2020 with term bonds due 2030, 2035 and 2040. The 2010B bonds are due 2011 to 2020 with term bonds due 2030, 2035 and 2040.

Proceeds will be used to finance an addition and improvements to the system's Paoli Hospital, as well as to refund debt.

The Chester County authority, based in West Chester, Pa., provides funding for educational and health care projects. The Philadelphia authority also provides funding for educational and health care projects.

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