Hillsborough County Sells $325.9 Million in Bonds to Fund Health Facilities

By Paulo Trevisani

The Hillsborough County Industrial Development Authority, in Florida, issued $325.9 million in bonds to upgrade health care facilities.

Proceeds from the Series 2024 Variable Rate Bonds will be loaned to BayCare Health System, a Florida non-profit, to finance the acquisition, construction, equipping and installation of health care facilities in the counties of Hillsborough, Pasco, Polk, Pinellas and Manatee, according to a document posted Thursday on MuniOS.

The Series 2024D bonds, totalling $100 million and the Series 2024E, amounting to $126 million, mature in 2054, with rates determined daily.

The Series 2024F, totalling $50 million and maturing in 2042, will carry weekly rates, as will the Series 2024G bonds, or $49.8 million, maturing in 2044.

The bonds are payable by BayCare.

Moody's Investors Service has assigned a Aa2 rating and Fitch Ratings has rated the bonds AA.

J.P. Morgan and RBC Capital Markets are underwriters.

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

(END) Dow Jones Newswires

September 20, 2024 15:08 ET (19:08 GMT)

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