Virginia Small Business Financing Authority to sell $300 million bonds for Sentara Healthcare

By Sheri Kasprzak

New York, Jan. 11 - The Virginia Small Business Financing Authority is expected to bring to market $300 million in series 2010 health care facilities revenue and refunding bonds for Sentara Healthcare, according to a preliminary official statement.

The bonds will be sold through lead manager Citigroup Global Markets Inc. The co-managers include BB&T Capital Markets, Bank of America Merrill Lynch, Morgan Keegan & Co. Inc., Morgan Stanley & Co. Inc., Goldman, Sachs & Co., and Edward Jones & Co.

The maturities have not yet been set.

Proceeds will be used to finance or refinance the construction, development, acquisition and equipment of the Princess Anne Hospital, which will be located in Virginia Beach, Va., as well as the construction of a three-story addition to the Sentara Obici Hospital in Suffolk, Va. The rest will be used to acquire the assets of Potomac Hospital Corp. in Prince William, Va.

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