California Health Facilities plans to sell $315.38 million refunding bonds for Stanford Hospital

By Sheri Kasprzak

New York, May 24 - The California Health Facilities Financing Authority is set to sell $315.38 million in series 2010 refunding revenue bonds, according to a preliminary official statement. The bonds will be sold for Stanford Hospital and Clinics.

The sale includes $160.12 million in series 2010A bonds and $155.26 million in series 2010B bonds.

The bonds (Aa3/A+/AA-) will be sold through senior manager Morgan Stanley & Co. Inc. The co-managers are J.P. Morgan Securities Inc. and Goldman Sachs & Co.

The maturities have not yet been determined.

Proceeds will be used to refund the hospital's series 1998B and 2003B-D bonds, which were used to construct, equip and renovate Stanford Hospital and Clinics facilities.

The authority, based in Sacramento, Calif., provides financing for hospitals and health care centers throughout the state. Stanford Hospitals and Clinics is based in Stanford, Calif., and operates health care facilities.

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