By Cristal Cody
Springdale, Ark., June 9 - The Lehigh Valley Hospital and Health Network, Pa., priced $95.59 million revenue bonds with a 1.1% initial daily interest rate, a source said Monday.
The series 2008B bonds (Aaa/AAA/) were sold through the Lehigh County General Purpose Authority.
The bonds, insured by Assured Guaranty Corp., are due July 1, 2028.
Wachovia Securities managed the negotiated sale.
Proceeds will be used to refund the outstanding series 1998A, 1998B and 1998C revenue bonds.
| Issuer: | Lehigh Valley Hospital and Health Network/Lehigh County General Purpose Authority (Pa.)
|
| Issue: | Revenue bonds
|
| Amount: | $95.59 million
|
| Type: | Negotiated
|
| Initial rate: | 1.1%
|
| Resets: | Daily
|
| Maturity: | July 1, 2028
|
| Underwriter: | Wachovia Securities
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | June 5
|
| Closing date: | June 5
|
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