Grossmont Healthcare, Calif., to sell $136.86 million G.O. bonds

By Sheri Kasprzak

New York, Jan. 12 - The Grossmont Healthcare District of California is set to bring to market $136.86 million of election of 2006, series 2011, general obligation bonds, according to a preliminary official statement. The sale is expected on Jan. 19.

The bonds (Aa2) will be sold on a negotiated basis with Goldman Sachs & Co. as the lead manager.

The bonds are due 2016 to 2031 with term bonds due 2034 and 2040.

Proceeds, along with funds contributed by Sharp Healthcare, will be used to continue capital projects, including the completion of hospital tower renovations, a central energy plant, a diagnostic and treatment center, and a health occupations training center.

The district, based in La Mesa, operates health care facilities in East County, Calif.

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