Allegheny County Hospital, Pa., to price $100 million of bonds Tuesday

By Sheri Kasprzak

New York, Nov. 21 - The Allegheny County Hospital Development Authority is scheduled to sell $100 million of series 2011 revenue bonds for the University of Pittsburgh Medical Center on Tuesday, according to a sales calendar.

The bonds (Aa3/AA-) will be sold through RBC Capital Markets LLC.

Proceeds will be used to refinance a line of credit draw, which was used by the medical center to pay a portion of a Sept. 1, 2011 bullet principal payment associated with its series 2008A bond issue; to refund the medical center's series 1999A bonds; and to provide funds for the system's ongoing capital needs in fiscal year 2012.

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