Charleston Area Medical Center, W.Va., to sell $127.355 million variable-rate revenue bonds

By Sheri Kasprzak

New York, June 12 - The Charleston Area Medical Center in West Virginia plans to price $127.355 million in series 2008A variable-rate revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AA-/) will be sold on a negotiated basis with Merrill Lynch as the senior manager.

The bonds are due Sept. 1, 2037 and initially bear interest at the weekly rate. The bonds can be converted to the daily rate.

Proceeds will be used to refund the center's outstanding series 1995A bonds, retire a bank loan and make a deposit to a project fund.

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