University of Alabama to price $109.93 million Birmingham Hospital bonds July 9

By Sheri Kasprzak

New York, July 2 - The University of Alabama intends to price $109.93 million in series 2008B revenue bonds for the Birmingham Hospital on July 9, said a preliminary official statement.

The bonds (Aaa/VMIG1/AAA/A-1/) will be sold on a negotiated basis with Morgan Keegan & Co. as the senior manager. The co-managers are Merrill Lynch and Prospective Securities.

The variable-rate bonds are due Sept. 1, 2031 and bear interest at the weekly rate.

Proceeds will be used to pay off the hospital's outstanding taxable bonds.

The university priced $109.925 million in series 2008A revenue bonds for the hospital on June 25.

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