June 20, 2013 / 1:23 PM / 4 years ago

California Health Facilities Authority postpones $763.6 mln sale

June 20 (Reuters) - The California Health Facilities Authority has postponed a $763.3 million revenue bond sale for the St. Joseph Health System to the week of June 24, a market source said on Thursday.

The bonds were expected to price later on Thursday through lead manager Morgan Stanley.

No further details were available about the postponement.

Bond market yields surged on Wednesday to their highest levels in 15 months as Federal Reserve Chairman Ben Bernanke suggested that the U.S. central bank was prepared to reduce bond purchases. Munis market yields rose too, with the triple-A general obligation yields up as much as 5 basis points, accordindg to Municipal Market data.

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