Cottage Health in California to sell $300 million revenue bonds

By Cristal Cody

Tupelo, Miss., Sept. 29 - The Cottage Health System Obligated Group plans to sell $300 million in revenue bonds through the California Statewide Communities Development Authority, according to a preliminary official statement.

The series 2010 bonds (/A+/AA-) will price through a negotiated sale managed by Morgan Stanley & Co. Inc.

Proceeds will be used to refund the outstanding series 2008A-E variable-rate revenue bonds and to make payments to terminate the group's interest rate swaps.

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