Orange Regional Healthcare, Fla., to convert $155.825 million in bonds

By Sheri Kasprzak

New York, April 23 - The Orange Regional Healthcare System in Florida intends to convert $155.825 million in hospital revenue bonds, according to a notice of conversion released Wednesday.

The bonds (A2/A/A) being converted include $49.025 million in series 2008A bonds and $106.8 million in series 2008B bonds. The bonds were sold in 2005 and 2006 through the Orange County Health Facilities Authority.

The 2008A bonds will be converted on May 15 to a fixed-rate mode from an auction-rate mode. The 2008B bonds will also be converted on May 15 to a fixed-rate mode from an auction-rate mode.

Morgan Stanley, Goldman, Sachs & Co. and Suntrust Robinson Humphrey are the remarketing agents.

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