California Statewide to sell $303.76 million bonds for Methodist Hospital

By Sheri Kasprzak

New York, Nov. 24 - The California Statewide Communities Development Authority is expected to sell $303.76 million in series 2008 FHA-insured mortgage revenue bonds for the Methodist Hospital of Southern California, according to a preliminary official statement.

Goldman, Sachs & Co. is the lead manager for the negotiated sale.

The bonds will be structured with serial and term bonds, but the maturities have not been set at this time.

Proceeds will be used to pay for or repay the hospital for the construction, acquisition or equipment of hospital facilities, as well as to refund all of the hospital's outstanding series 1996 certificates of participation. The rest will be used to pay a portion of the interest accruing on the series 2008 bonds since construction began.

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