North Carolina Medical arranges $58.45 million sale of Wake Forest Baptist refunding bonds

By Sheri Kasprzak

New York, Nov. 7 - The North Carolina Medical Care Commission plans to sell $58.45 million of series 2012C health care facilities revenue refunding bonds for the Wake Forest Baptist Obligated Group, according to a preliminary official statement.

The floating-rate bonds (Aa3/AA-/) will be sold on a negotiated basis with Goldman, Sachs & Co. and Morgan Stanley & Co. LLC as the senior managers.

The bonds are due Dec. 1, 2033.

Proceeds will be used to expand the obligated group's comprehensive cancer center, to construct the Clemmons Medical Plaza in Clemmons, N.C., expand the obligated group's pediatric emergency department, to construct the Davie Medical Plaza in Bermuda Run, N.C., and upgrade information systems.

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