WellSpan Health plans to bid on $70 million auction-rate bonds to lower interest rates

By Cristal Cody

Springdale, Ark., March 27 - WellSpan Health plans to bid on its $70 million auction-rate bonds to lower its interest rates.

The company will submit bids for the series 2007A revenue bonds that mature June 1, 2037 in each of the auctions starting March 31 until it owns all of the outstanding bonds.

WellSpan Health expects to bid a 2.91% rate for the March 31 auction, according to a notice. A designated rate will be chosen for each auction.

The bonds were sold through the General Authority of Southcentral Pennsylvania.

Citigroup Global Markets is the broker.

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