Charleston Area Medical Center, W.Va., to restructure $167.55 million variable-rate bonds

By Cristal Cody

Springdale, Ark., May 2 - The Charleston Area Medical Center in West Virginia intends to restructure $167.55 million variable-rate revenue and refunding bonds, according to a notice released Friday.

The restructuring includes $93.075 million series 2002A revenue refunding bonds and $74.475 million series 2002B revenue bonds, which priced through the West Virginia Hospital Finance Authority.

The center plans to amend the bond trust indenture to allow the bonds to be converted from the R-Floats mode to a fixed interest rate.

The bonds will be tendered if the conversion occurs, though the restructuring will depend on market conditions, the medical center reported.

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