Allegheny Health Network issues $914.9 Billion in Tax-Free Bonds
Featured Municipal Bond, Week of August 6, 2018: Allegheny County Hospital Development Authority Revenue Bonds – $914.9 Million
The Allegheny County Hospital Development Authority is issuing $914.9 million in general obligation bonds the week of August 6, 2018. The bonds are being issued as a single, tax-exempt series, for the purpose of refunding prior bonds related to the Series 2017 issues by the Allegheny Health Network Group, currently outstanding in the amount of $1 billion. The bonds are being underwritten through negotiation by Citigroup, BoA Merrill Lynch and PNC Capital Markets, LLC. Payment of principal and interest on the bonds will be payable solely from the pledged revenues outlined in the official statement. The bonds constitute a joint and several obligation of the obligated group members associated with the Allegheny Health Network, including but not limited to these subsidiaries: West Penn Allegheny Health System, the Jefferson Regional Medical Center, Saint Vincent Health Center and the Canonsburg General Hospital. The System’s headquarters is in Pittsburgh, PA.
Details on purposes, tax-status, security, as well as other matters pertaining to this Allegheny Hospital Development bond issue can be found in the preliminary official statement, available on MuniOS.
These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only