By Zaeem Shoaib
South Carolina's Medical University Hospital Authority plans to sell $260 million of bonds to pay for new medical facilities.
The authority will sell FHA-Insured Hospital Mortgage Revenue Bonds Series 2025 due from November 2028 through November 2045, according to documents posted on MuniOS.
A question and answer session for potential investors will be held on Nov. 13, and pricing is scheduled for Nov. 18. Settlement is set for Dec. 4.
Interest on the bonds is payable on starting on May 15 and Nov. 15.
The bonds are limited obligations of the authority and are payable solely from amounts received under a mortgage note, as well as certain revenue and rights to receive revenue of the authority.
The funds from the sale will be used to pay for the costs of the Indian Land Medical Center project, which will include a medical center and a multi-specialty medical office building.
The medical office building is scheduled to open in February 2027, followed by the Indian Land Medical Center opening in January 2028.
The total cost for Indian Land Medical Center and the medical office building is $251.2 million. This excludes about $43.3 million in equipment, which will be funded outside of the project.
The authority is an agency of the state created to manage and operate the hospitals and clinics of the Medical University of South Carolina, which along with its affiliates makes up South Carolina's only comprehensive academic health system.
Moody's and S&P Global Ratings have assigned the bonds a rating of Aa2 and AA+, respectively.
BofA Securities is lead manager on the deal.
Write to Zaeem Shoaib at zaeem.shoaib@wsj.com
(END) Dow Jones Newswires
November 11, 2025 12:16 ET (17:16 GMT)
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