Reading Hospital, Pa., prepares $252.86 million sale of revenue bonds

By Sheri Kasprzak

New York, June 4 - The Berks County Municipal Authority of Pennsylvania plans to price $252.86 million of series 2012 revenue bonds for the Reading Hospital and Medical Center, according to a preliminary official statement.

The offering includes $162,095,000 of series 2012A fixed-rate bonds and $90,765,000 of series 2012G variable-rate bonds.

The bonds (Aa3/AA/AA-) will be sold on a negotiated basis. The 2012A bonds will be sold through Bank of America Merrill Lynch, Morgan Stanley & Co. LLC and RBC Capital Markets LLC. The 2012B bonds will be sold through Morgan Stanley & Co. LLC and RBC Capital Markets LLC.

The 2012A bonds are due Nov. 1, 2041, and Nov. 1, 2044. The 2012B bonds are due Nov. 1, 2039.

Proceeds will be used to construct, equip, acquire and install new and existing buildings operated by Reading Hospital and Medical Center, including emergency care facilities, oncology buildings and cardiology services, as well as to refund the medical center's series 2002 revenue bonds.

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