Kaiser Foundation Hospitals to remarket $150 million bonds; considers refunding $491.53 million bonds

By Cristal Cody

Springdale, Ark., March 7 - Kaiser Foundation Hospitals Inc. plans to remarket $150 million revenue bonds on May 1.

The series H bonds, priced through the California Statewide Communities Development Authority, are due April 1, 2034.

Kaiser Foundation Hospitals and 1800 Harrison Foundation also are evaluating whether to refund or convert $491.53 million auction-rate bonds, according to a notice released Thursday.

If the groups move forward, the refunding and/or conversion will happen by May 1.

The bonds under consideration include $350 million California Statewide Communities Development Authority-issued insured revenue bonds series 2004 A, B, C and D of $87.5 million each, due April 1, 2032; and $141.525 million insured revenue bonds due May 1, 2034.

The $141.525 million series, sold through the California Infrastructure and Economic Development Bank, include $55.85 million series 2004 A-1; $55.85 million series 2004 A-2; $5.675 million series 2004 A; and $24.15 million series 2004 B.

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