TITLE

Clarian Doubles Its Debt With $400M Sale and Two Swaps

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/25/2003, Vol. 344 Issue 31664, p30
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Clarian Health Partners Inc. are expected to introduce their planned $500 million bond issuance, a deal that will include two swaps to fixed rate as part of a $1 billion capital plan for the largest health system in Indianapolis. The $400 million sale, which is being done through the Indiana Health Facility Financing Authority, will double Clarian's debt, one factor that prompted both Moody's Investors Service and Fitch Ratings to downgrade the health system's ratings. The sale will include $225 million of taxable auction-rate bonds with a swap to fixed rate and $175 million of tax-exempt auction-rate bonds with a swap to fixed rate, said Jim Blake, a health care banker with Citigroup Global Markets Inc., the lead manager on the deal.
ACCESSION #
10152849

 

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