Advocate Aurora Health to Issue $1,230 Million in Taxable and Tax-Exempt Bonds
Featured Municipal Bond Issue, Week of August 6, 2018: Advocate Aurora Health to issue $1.2 Billion in Taxable and Tax-Exempt Bonds
The Advocate Aurora Health group is planning to issue four series of taxable and tax-exempt bonds the week of August 6, 2018. The tax-exempt bonds are being issued by the Wisconsin Health and Educational Facilities Authority as a three tax-exempt series in the amount of $500 million, for the purpose of refinancing of prior debt. The $730 million taxable bonds are being issued as a single series by the Advocate Health and Hospitals Corporation. The bonds are being underwritten through negotiation by J.P. Morgan, Citgroup, BofA Merrill Lynch and Loop Capital Markets. Payment of principal and interest on the bonds will be general, unsecured joint and several obligations of the members of the obligated group.
Details on purposes, tax-status, security, as well as other matters pertaining to this bond issue can be found in four separate preliminary official documents, available on MuniOS and by searching for Advocate Aurora Health.
On April 1, 2018, the Advocate Health Care Network & Subsidiaries and Aurora Health Care and its affiliates merged their organizations. Past audited annual information reflects results from the organizations prior to the merger. The documents associated with this sale provide unaudited pro forma consolidated statements of operations for the years ended December 31, 2016 and 2017 as well as three months results for March 31,2017 and 2018.