Children's Hospital Los Angeles to price $150 million bonds

By Sheri Kasprzak

New York, July 17 - Children's Hospital Los Angeles intends to price $150 million in series 2008 variable-rate revenue bonds, according to a preliminary official statement.

The sale includes $50 million in series 2008A bonds due Aug. 15, 2023; $50 million in series 2008B bonds due Aug. 15, 2031; and $50 million in series 2008C bonds due Aug. 15, 2034.

The 2008A and 2008B bonds bear interest at the weekly rate, and the 2008C bonds bear interest at the daily rate.

The bonds will be sold through the California Statewide Communities Development Authority.

Banc of America Securities LLC is the lead manager for the negotiated offering.

Proceeds from the sale will be used to refund the hospital's series 2002 and series 2004B bonds.

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