Alamogordo, N.M., to sell $89.44 million bonds for Gerald Champion Regional Medical Center

By Sheri Kasprzak

New York, June 10 - The City of Alamogordo, N.M., is set to sell $89.435 million in series 2010 hospital improvement and refunding revenue bonds, according to a preliminary official statement. The bonds will be sold on behalf of the Gerald Champion Regional Medical Center.

The offering is comprised of $73.11 million in series 2010A bonds and $16.325 million in series 2010B bonds.

The bonds (/BBB+/) will be sold on a negotiated basis with Morgan Keegan & Co. Inc. as the senior manager.

The 2010A bonds are due 2022 to 2026 with term bonds due 2030, 2035 and 2040. The 2010B bonds are due 2011 to 2022.

Proceeds will be used to finance and reimburse the hospital for costs associated with constructing, equipping and acquiring hospital facilities, as well as to refund and defease the hospital's series 2007A and 2007B hospital improvement and refunding revenue bonds.

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