Lehigh Valley Health Network in Pennsylvania plans $72.25 million hospital revenue bonds

By Cristal Cody

Springdale, Ark., May 12 - The Lehigh County General Purpose Authority in Pennsylvania intends to price $72.25 million hospital revenue bonds for the Lehigh Valley Health Network in a competitive sale on May 20, according to a sale notice.

The series 2008A bonds (Aaa/AAA/-) have maturities from 2008 through 2038.

The bonds are insured by Financial Security Assurance.

Shattuck Hammond Partners, a division of Morgan Keegan & Co., is the authority's financial adviser.

Proceeds will be used for the Lehigh Valley Hospital and Lehigh Valley Hospital-Muhlenberg location to fund the costs of constructing, renovating and equipping health-care facilities.

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