Bon Secours to convert various bond series to long-term interest rates

By Devika Patel

Knoxville, Tenn., Aug. 31 - Bon Secours Health System, Inc. said it is exercising its option to convert several bonds from the weekly interest rate period to the long-term interest rate period, effective Sept. 29, the conversion date.

After Sept. 29, the bonds will bear interest at the long-term rates until maturity or redemption. All of the bonds are subject to mandatory tender on Sept. 29 at par plus interest to the conversion date. The bonds will then be remarketed with the new interest rates.

Affected are the series 2008C-2 revenue bonds issued through the Economic Development Authority of the County of Chesterfield in Virginia, the series 2008A revenue bonds issued through the South Carolina Jobs Economic Development Authority, the series 2008 revenue bonds issued through the Economic Development Authority of Henrico County in Virginia and the series 2008C revenue bonds issued through the Economic Development Authority of the County of Chesterfield.

Wells Fargo Bank, NA is the trustee.

The health system is based in Marriottsville, Md.

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