Saint Elizabeth Medical Center, Ky., to bid on remainder of $113.88 million auction-rate bonds

By Cristal Cody

Springdale, Ark., April 24 - The Saint Elizabeth Medical Center intends to bid in the May 6 auction for the remainder of its $113.875 million revenue refunding and improvement bonds, according to a notice.

The medical center plans to submit bids based on the Sifma Municipal Swap index plus a spread of 50 basis points.

The series 2003A, 2003B and 2003C auction-rate bonds were sold through the Kentucky Economic Development Finance Authority.

The hospital already owns $76.1 million of the bonds after bidding in an auction held Tuesday.

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