Baylor College considers refunding bonds to redeem series 2008D bonds

By Cristal Cody

Eureka Springs, Ark., March 28 – Baylor College of Medicine may price tax-exempt fixed-rate refunding bonds to redeem its outstanding series 2008D medical facilities revenue refunding bonds, according to a notice on Friday to bond owners.

Baylor College of Medicine said it is applying to the Harris County Cultural Education Facilities Finance Corp. for the possible issuance of tax-exempt fixed-rate refunding bonds to defease and redeem the outstanding bonds on Nov. 15, 2018.

An offering is contingent on market conditions, diligence completion, board and governmental approvals and other conditions.

Houston-based Baylor said the redemption is intended to achieve savings in interest expense.

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