Children's Hospital of Los Angeles to price $174.59 million of bonds

By Sheri Kasprzak

New York, July 18 - The California Health Facilities Financing Authority is expected to come to market with $174,585,000 of series 2012 revenue bonds for the Children's Hospital of Los Angeles, according to a preliminary official statement.

The offering includes $122.44 million of series 2012A bonds and $52,145,000 of series 2012B variable-rate revenue bonds.

The bonds (Baa2/BBB+/) will be sold on a negotiated basis with Bank of America Merrill Lynch and Citigroup Global Markets Inc. as the senior managers.

The 2012A bonds are due 2015 to 2027 with term bonds due in 2029, 2032 and 2034. The 2012B bonds are due July 1, 2042.

Proceeds will be used to prepay the hospital's series 1999 certificates and refund its series 2009 and 2010B bonds.

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