University of Alabama plans to price $108.4 million Birmingham Hospital revenue bonds

By Cristal Cody

Springdale, Ark., June 12 - The University of Alabama intends to price $108.4 million Birmingham Hospital revenue bonds, according to a preliminary official statement released Thursday.

The series 2008A fixed-rate bonds (A1/A+/) have serial maturities from Sept. 1, 2008 through Sept. 1, 2023 and a term bond due in 2025.

The university also intends to price $108.62 million series 2008B variable-rate bonds, though an official statement has not yet been released.

Morgan Keegan & Co. is the senior manager of the negotiated sale. Co-managers are Merrill Lynch & Co. and Protective Securities, a division of ProEquities Inc.

Proceeds will be used to refinance debt.

Additional information was not available by press time.

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