Central Washington Health plans to price $118 million revenue bonds

By Sheri Kasprzak

New York, July 14 - The Washington Health Care Facilities Authority plans to sell $118 million in series 2009 revenue bonds for Central Washington Health Services Association, according to a preliminary official statement.

The bonds (Baa2//BBB+) will be sold through lead managers Merrill Lynch & Co. Inc. and Piper Jaffray & Co.

The maturities have not yet been set.

Proceeds will be used to construct, acquire, renovate, repair and equip a five-story patient tower, as well as to remodel other patient care facilities. The remainder will be used to refund the authority's outstanding series 2001 bonds.

The authority is headquartered in Olympia, Wash. Central Washington Health Services Association is based in Wenatchee, Wash.

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