Hawaii to sell $78.67 million revenue bonds for Queen's Health on May 6

By Sheri Kasprzak

New York, April 29 - The Hawaii Department of Budget and Finance is gearing up to price $78.67 million in series 2009 special purpose revenue bonds (Aaa/VMIG1/AAA/A-1/) for the Queen's Health System, according to a preliminary official statement.

The deal will price on May 6, according to a calendar of upcoming sales.

The sale includes $39.335 million in series 2009A bonds, which are due July 1, 2029, and $39.335 million in series 2009B bonds, which are due July 1, 2029.

Banc of America Securities LLC is the lead manager for the series 2009A bonds and Merrill Lynch & Co. Inc. is the senior manager for the 2009B bonds.

Proceeds will be used to refund the Queen's Health System's series 2003B and series 2006C bonds.

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