• ISIN: US59465HTU04
  • Entity Name: Michigan State Hospital Finance Authority
  • Sector: Sub Sovereign Agency
  • Announcement Date: 29-Dec-2017
  • Effective Date: 01-Feb-2018
  • Issue Date: 01-Nov-1999
  • Maturity Date: 15-Nov-2033
  • Country of Issuer: United States
  • Region: N.Amer
  • Issue Currency: United States of America Dollars
  • CA Type: Amendment of Indenture
  • News: Wells Fargo Bank, National Association is the successor bond trustee and successor tender - dated as of November between the Michigan Finance and the Trustee. All capitalized terms used but not defined herein shall have the meanings given in the Indenture. With respect to the Bonds, you are hereby notified as follows: 1. Notice of Adjustment of Bonds to a Long-Term Interest Rate Period. The interest rate period on the Bonds shall be adjusted to another Long-Term Interest Rate Period unless Bond Counsel fails to deliver a Favorable Opinion of Bond Counsel to the Trustee, the Issuer, Ascension Health, Ascension Health Alliance and the Remarketing Agent as to such adjustment on the effective date of such adjustment in the interest rate period or other conditions precedent to such adjustment are not met. The proposed effective date of the Long-Term Interest Rate Period is February 1, 2018 The Bonds are subject to mandatory tender for purchase on the Mode Change Date, regardless of whether any or all conditions precedent to the adjustment are met, at a purchase price equal to the principal amount thereof, plus accrued interest, if any. 2. Notice of Mandatory Tender. The above Bonds are to be tendered at par on February 1, 2018 and will be paid interest from November 15, 2017 through January 31, 2018. Pursuant to Section 4.11 of the Indenture, you are hereby notified (1) that the Purchase Price of any Bond so subject to mandatory tender for purchase shall be payable only upon surrender of such Bond to the Tender Agent at its Principal Corporate Trust Office (600 4th Street, 7th Floor, Minneapolis, MN 55415, Attention: Corporate Trust Services), accompanied by an instrument of transfer thereof, in form satisfactory to duly-authorized attorney, with such signature guaranteed by a commercial bank, trust company or member firm of the New York Stock Exchange; (2) that all Bonds so subject to mandatory tender for purchase shall be purchased on the Mode Change Date (February 1, 2018); and (3) that in the event that any Holder of a Bond so subject to mandatory tender for purchase shall not surrender such Bond to the Tender Agent for purchase on such Mode Change Date, then such Bond shall be deemed to be an Undelivered Bond, and that no interest shall accrue thereon on and after such Mode Change Date and that the Holder thereof shall have no rights under the Indenture other than to receive payment of the Purchase Price thereof.
  • Description: Municipal Name: Michigan State Hospital Finance Authority CUSIP: 59465HTU0 Currency: USD Michigan State Hospital Finance Authority today announced that it has amended the interest rate period to another long-term interest rate period of its Variable Rate Revenue Bonds, Series 1999B-3 effective on February 1, 2018.
  • Bond Document:
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