South Carolina Jobs to sell $94.27 million of hospital refunding bonds

By Sheri Kasprzak

New York, April 4 - The South Carolina Jobs-Economic Development Authority is set to price $94.265 million of series 2011A hospital refunding revenue bonds for Palmetto Health, said a preliminary official statement.

The bonds (Baa1/BBB+/BBB+) will be sold on a negotiated basis with Merrill Lynch and Edward Jones & Co. Inc. as the senior managers.

The maturities have not been set.

Proceeds will be used to refund debt previously issued to fund the acquisition of land, equipment and other hospital property.

Based in Columbia, S.C., the authority promotes the retention of jobs in the state through loans and other means to South Carolina-based companies and organizations.

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