Dutchess County Local Development, N.Y., preps $56.82 million offering

By Sheri Kasprzak

New York, April 25 - The Dutchess County Local Development Corp. of New York plans to price $56.82 million of series 2014 revenue bonds for Health Quest Systems Inc., according to a preliminary official statement.

The bonds (A3/A-/) will be sold on a negotiated basis with BofA Merrill Lynch as the underwriter.

The deal includes $33,465,000 of series 2014A bonds and $23,355,000 of series 2014B taxable bonds.

The 2014A bonds are due 2020 to 2029 with term bonds due in 2034 and 2044.

The 2014B bonds are due 2015 to 2024 with term bonds due in 2029, 2034 and 2044.

Proceeds will be used to acquire, construct, improve and repair the Northern Dutchess Hospital in Rhinebeck, N.Y.

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