By Stephen Nakrosis
The New Hampshire Health and Education Facilities Authority is selling $420 million of revenue bonds, with proceeds being loaned to Dartmouth Health, who will use the money to expand medical facilities in the state.
The bonds are being issued to finance construction, renovations, and equipment for an expanded in-patient facility in Lebanon, NH, as well as expansion of radiology facilities at that location, according to offering documents on MuniOS. Other uses of the proceeds include construction of a new medical office building in Claremont, refunding some previously issued bonds, and issuance costs.
The Dartmouth Health Obligated Group Issue, Series 2025 bonds are secured by loan repayments which will be made by Dartmouth Health. The bonds are not an obligation pf the state of New Hampshire.
Interest on the bonds will be payable on Aug. 1, 2025, and semi-annually each Feb. 1 and Aug. 1 thereafter. Interest, yield and maturity dates haven't been set.
Fitch Rating and S&P Global Ratings have both given the bonds a rating of A with a stable outlook.
The bonds are exempt from both federal and state of New Hampshire taxes.
Jefferies and Morgan Stanley are lead managers for the offering.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 01, 2025 15:19 ET (19:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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