Memorial Hermann, Texas, to sell $228.38 million bonds Wednesday

By Sheri Kasprzak

New York, Nov. 3 - The Memorial Hermann Healthcare System of Texas is gearing up to price $228.375 million in series 2008B hospital revenue refunding bonds on Wednesday, according to a calendar of upcoming deals.

The bonds (A2/A/) will be sold through the Harris County Health Facilities Development Corp. on a negotiated basis with RBC Capital Markets as the lead manager. The co-managers are J.P. Morgan Securities Inc. and Siebert Brandford Shank & Co.

The bonds are due 2028, 2031 and 2035.

Proceeds will be used to repay a bridge loan and to fund a debt service reserve fund.

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