Indiana Issues $132 Million In Health Facility Revenue Bonds

By Paulo Trevisani

The Indiana Finance Authority issued $132.2 million in Health Facility Revenue Bonds to finance improvements to Hendricks Regional Health county hospital.

The proceeds from the Series 2024 bonds will be used to build and renovate hospital facilities at various locations in the state. They will also be used to retire prior bonds and cover other costs, according to a statement published Wednesday on MuniOS.

The bonds are considered exempt from federal and state income taxes, the statement said.

The bonds mature between 2025 and 2044 with a 5% coupon. The 10-year maturity carries a 3.47% yield. A $29.1 million term bond due March 1, 2049 has a 4.25% coupon and priced to yield 4.43%, and a $37 million term bond due March 1, 2054 has a 5.25% coupon and priced to yield 4.3%.

The bonds are payable from revenues of the Hendricks County Hospital.

Piper Sandler is the underwriter. The bonds are rated A- by S&P Global Ratings and A3 by Moody's Investors Service.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

September 04, 2024 16:05 ET (20:05 GMT)

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