CHICAGO - Des Moines-based Iowa Health System - the state's largest health care provider - this week plans to sell $50 million of new-money bonds and early next month will shift $350 million of its variable-rate debt to a fixed-rate structure as the system seeks to reduce its floating-rate exposure.
The Iowa Finance Authority is the issuer. JPMorgan is the senior manager on the $50 million new-money piece. JPMorgan and Citi are underwriters on the reoffering of $201 million of variable-rate 2005 bonds and $150 million of variable-rate 2008 debt. Dorsey & Whitney LLP is bond counsel.