Royal Oak Hospital, Mich., to sell $583.72 million bonds Thursday

By Sheri Kasprzak

New York, Sept. 15 - The Royal Oak Hospital Finance Authority of Michigan is expected to price $583.72 million in series 2008V fixed-rate and series 2008W term-rate revenue and refunding bonds on Thursday, according to a calendar of upcoming offerings.

The bonds (A1/A/A+) will be sold through senior manager Morgan Stanley. The bonds are being issued for the William Beaumont Hospital.

Proceeds will be used for construction and renovation costs, the refunding of outstanding bonds and termination payments made under interest rate hedge agreements for the refunded bonds.

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