SSM To Issue $233 Million In Bonds

Caduceus, a symbol of medicine and health care | Photo by Nicole Lunger
Nicole Lunger/Missouri Business Alert

St. Louis-based SSM Health Care is planning to use the proceeds from a $232.8 million bond sale to restructure its debt and pay for certain capital improvements and equipment, according to a bond document filed with the state’s Health and Educational Facilities Authority.

As part of last year’s acquisition of Wisconsin-based Dean Health System, SSM committed at least an additional $80,000 for facility improvements to be paid out from 2014 to 2018, according to the bond document. In addition to the bonds, the St. Louis-based health system will also issue commercial paper notes.

In total, SSM’s financing plan includes the issuance of bonds and commercial paper notes in the amount of $1.04 billion, according to the bond document. Goldman Sachs and Citigroup will serve as the underwriters for the bonds.

Read more from the St. Louis Business Journal

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