Massachusetts Hospital Group Borrowing $420 Million: Muni Credit
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Partners HealthCare System Inc., which runs Boston’s Massachusetts General Hospital, is borrowing $420 million for improvements including electronic medical records and to refinance debt, with average tax-exempt yields at close to a 16-month high.
Partners, a Boston-based nonprofit that has two hospitals affiliated with Harvard University, will complete the sale of about $270 million of fixed-rate securities today and is also offering $150 million of variable-rate debt this month, according to Debra Sloan, deputy treasurer. The tax-exempt securities are being sold through the Massachusetts Development Finance Agency.