Public Hospital District No. 1 of King County, Wash., to sell $86.66 million bonds Thursday

By Sheri Kasprzak

New York, June 7 - The Public Hospital District No. 1 of King County in Washington is expected to price $86.66 million in series 2010 hospital facilities revenue bonds for the Valley Medical Center on Thursday, according to a sales calendar.

The bonds (/BBB+/A-) will be sold on a negotiated basis with Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. as the senior managers.

The offering is comprised of $25.215 million in series 2010A tax-exempt bonds and $61.44 million in series 2010B Build America Bonds.

The 2010A bonds are due 2011 to 2020 with a term bond due 2024. The 2010B bonds are due 2030 and 2040.

Proceeds will be used to refund and defease the medical center's series 1997 and 1998 bonds, as well as to acquire hospital facilities.

The district, which is based in Renton, Wash., operates several hospitals and clinics in the county.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.