Hackensack University Medical Center to offer $241 million of bonds March 20

By Sheri Kasprzak

New York, March 11 - Hackensack University Medical Center in New Jersey will price $241 million in revenue and refunding bonds on March 20, a sellside source confirmed with Prospect News Tuesday.

The series 2008A bonds (A3//A-) are being sold through the New Jersey Health Care Facilities Finance Authority.

The bonds will be sold on a negotiated basis through lead manager Bear, Stearns & Co.

The proceeds will be used to construct a new cancer center on the Hackensack campus to consolidate the hospital's oncology services in one location. The proceeds will also be used for a parking garage.

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