Highline Medical Center to sell $128.52 million mortgage revenue bonds

By Cristal Cody

Springdale, Ark., July 11 - The Washington Health Care Facilities Authority intends to price $128.52 million insured mortgage revenue bonds for the Highline Medical Center, according to a preliminary official statement.

The series 2008 bonds (Aaa/AAA/) are insured by Financial Security Assurance Inc.

Banc of America Securities LLC is the senior manager of the negotiated sale, and Piper Jaffray is a co-manager.

Proceeds will be used to refund and redeem the outstanding $15.38 million from series 1993 revenue bonds and $16 million from series 1998 revenue bonds; pay for costs to renovate, acquire, construct and equip health care facilities and pay the costs of credit enhancement for the series 2008 bonds.

Additional information was not available on Friday.

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