By Chris Wack


The State of Connecticut Health and Educational Facilities Authority plans to issue $683.3 million in revenue bonds for Hartford HealthCare.

Hartford HealthCare plans to use the proceeds from the sale of the 2026 A bonds to finance, refinance or reimburse a portion of costs of construction, renovations, improvements, routine capital expenditures, furnishing and equipping of certain healthcare facilities, according to documents posted on MuniOS.

The corporation also plans to refinance all or a portion of certain outstanding bonds, and to refinance certain taxable indebtedness.

Interest on the bonds is payable semiannually, starting on July 1. Rates and yields have not yet been determined.

The bonds are a special obligation of the authority. The bonds will be payable from revenue of the authority, which consists primarily of payments made by Hartford HealthCare.

It is expected that the 2026A bonds will be available for delivery on or about Feb. 11.

The State of Connecticut Health and Educational Facilities Authority is a body politic and corporate whose purpose is to assist certain healthcare institutions, nursing homes, child care and child-development facilities and other qualified nonprofit organizations.

S&P Global has rated the bonds A, and Fitch has rated the bonds A+.

Morgan Stanley is listed as lead underwriter.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

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