Stanford Hospital & Clinics, Calif., to bid 1.8% on $85.7 million auction-rate bonds

By Cristal Cody

Springdale, Ark., April 16 - Stanford Hospital and Clinics in California intends to bid a 1.8% annual interest rate on $85.7 million bonds in the next auction on Friday, according to a notice.

The series 2006A3 revenue bonds priced through the California Health Facilities Financing Authority.

Morgan Stanley & Co. is the broker dealer.

The bonds had a low bid of 5% and a high bid of 11.44% in the last auction held March 14.

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