Industrial Development Authority of Winchester, Va., to price $75 million bonds for Valley Health

By Sheri Kasprzak

New York, Nov. 20 - The Industrial Development Authority of the City of Winchester in Virginia is set to sell $75 million in series 2009E hospital revenue bonds for Valley Health System Obligated Group, according to a preliminary official statement.

The bonds (A1/A+/) will be sold on a negotiated basis with Merrill Lynch & Co. as the senior manager. The co-managers are BB&T Capital Markets, Edward Jones and Wells Fargo Securities Inc.

The bonds are due 2015 to 2019 with term bonds due 2024, 2034, 2039 and 2044.

Proceeds will be used to expand, improve and equip a four-story bed tower at the Winchester Medical Center, as well as to construct a new parking deck.

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