Royal Oak Hospital, Mich., re-designates $169.57 million William Beaumont bonds

By Sheri Kasprzak

New York, Jan. 13 - The Royal Oak Hospital Finance Authority in Michigan has re-designated its $169.565 million in revenue bonds for William Beaumont Hospital, according to a supplement to the offering's official statement.

The hospital plans to sell series 2009V fixed-rate and 2009W term-rate revenue bonds this year.

The authority had originally announced the sale in September for $582.72 million. The offering was scaled down in late November.

The bonds (A1/A/A) will be sold through lead manager Morgan Stanley & Co. Inc. and co-managers Goldman, Sachs & Co. and Banc of America Securities LLC.

Proceeds will be used to construct and renovate buildings at the hospital, as well as to refund outstanding bonds and make termination payments on interest-rate hedge agreements for the refunded bonds.

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