District of Columbia plans to convert $150 million auction rate securities to long term rate

By Cristal Cody

Springdale, Ark., March 12 - The District of Columbia set April dates to convert $150 million hospital revenue auction rate securities to a long term rate.

Series 2005-1 bonds will be converted on April 9. Series 2005-2 bonds will be converted on April 10, and series 2005-3 bonds will be converted on April 11, according to a preliminary reoffering circular released Tuesday.

The bonds (-/AAA/AAA) for the Children's Hospital and Children's Hospital Foundation mature July 15, 2035.

The bonds are insured through Financial Security Assurance.

UBS Investment Bank is the remarketing agent.

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