North Carolina Medical Care Commission preps $228.62 million Wake Forest bonds

By Sheri Kasprzak

New York, Oct. 18 - The North Carolina Medical Care Commission is set to price $228.62 million of series 2012 health care facilities revenue and refunding bonds for the Wake Forest Baptist Obligated Group, according to a preliminary official statement.

The offering includes $114,175,000 of series 2012A revenue bonds and $114,445,000 of series 2012B refunding revenue bonds.

The bonds (Aa3/AA-/) will be sold through senior managers Morgan Stanley & Co. LLC and Goldman, Sachs & Co. The co-managers are BB&T Capital Markets LLC and J.P. Morgan Securities LLC.

The maturities for the 2012A bonds have not been set. The 2012B bonds are due 2013 to 2027.

Proceeds will be used to finance capital improvements to Wake Forest facilities and to refund existing debt.

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