County of Lorain, Ohio, to convert $356.9 million in series 2003, 2006 Catholic Healthcare bonds

By Sheri Kasprzak

New York, April 18 - The County of Lorain in Ohio intends to convert $356.9 million in series 2003C adjustable-rate hospital revenue refunding bonds and series 2006 adjustable-rate hospital revenue bonds.

The bonds being refunded include $91 million in series 2003C-1 bonds and $90.9 million in series 2003C-2 bonds, as well as $50 million in series 2006A bonds, $50 million in series 2006B bonds and $75 million in series 2006H bonds.

All of the bonds were sold for Catholic Healthcare Partners.

The bonds will be converted to a fixed-rate mode from an auction-rate mode.

The 2003C-1 bonds will be converted on May 8, and the 2003C-2 bonds will be converted on May 9. The 2006A bonds will be converted on May 7, and the 2006B bonds will be converted on May 8. The 2006H bonds will convert on May 13.

Banc of America Securities LLC and J.P. Morgan Securities Inc. are the remarketing agents.

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