Carolinas Health Care System to sell $223.94 million bonds in August

By Sheri Kasprzak

New York, July 30 - The Charlotte-Mecklenburg Hospital Authority in North Carolina is gearing up to price $223.935 million in series 2009A health care revenue refunding bonds for the Carolinas Health Care System, according to a preliminary official statement. Pricing is expected in August.

The bonds (Aa3/AA-/) will be sold through lead manager Merrill Lynch & Co. Inc. The co-managers include J.P. Morgan Securities Inc., BB&T Capital Markets and Wells Fargo Securities Inc.

The bonds are due 2010 to 2024 with term bonds due 2029 and 2039.

Proceeds will be used to refund the health care system's 1997A, 2007J, 2007K and 2007L bonds.

The Charlotte-Mecklenburg Hospital Authority is based in Charlotte, N.C.

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