California Health to price $87.88 million bonds Friday for Adventist

By Aaron Hochman-Zimmerman

New York, May 11 - The California Health Facilities Financing Authority plans to issue $87.875 million in series 2009B-C revenue bonds on behalf of Adventist Healthcare, according to Joe DeAna, spokesman for the state treasurer.

The bonds are expected to price Friday.

A $30 million series B daily variable-rate tranche will be offered with a maturity date of Sept. 1, 2038. J.P. Morgan Securities Inc. will act as underwriter for this portion.

In addition, $57.875 million of series C revenue bonds will be offered with maturities from 2010 to 2021. Goldman Sachs & Co. will act as underwriter for series C.

Both tranches will sold as negotiated transactions.

Proceeds from the sale will be used to fund hospital projects.

The California Health Facilities Financing Authority is based in Sacramento, Calif.

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