Mountain States Health, Va. and Tenn., to sell $80 million Thursday

By Sheri Kasprzak

New York, Nov. 17 - The Mountain State Health Alliance in Virginia and Tennessee is planning to price $80 million in series 2008 hospital revenue bonds (Baa1/BBB+/) on Thursday, according to a preliminary official statement.

The sale includes $5.615 million in series 2008C bonds sold through the Health and Educational Facilities Board of the city of Johnson City, Tenn.; $5.74 million in series 2008D bonds sold through the Industrial Development Authority of Smyth County, Va.; $68.645 million in series 2008E bonds sold through the Industrial Development Authority of Washington County, Va.

The 2008C bonds are due 2009 to 2018 with term bonds. The 2008D bonds are due 2009 to 2018 with term bonds and the 2008E bonds are due 2009 to 2018 with term bonds. The maturities for the term bonds have not been determined at this time.

Merrill Lynch & Co. is the senior manager for the negotiated offering.

Proceeds will be used to refinance debt for the respective authorities and to finance the construction of certain hospitals.

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