Newport Beach, Calif., plans $217.35 million bonds for Hoag Memorial

By Aaron Hochman-Zimmerman

New York, May 13 - Newport Beach, Calif., plans to offer $217.35 million in series 2009A-E revenue bonds on behalf of Hoag Memorial Hospital Presbyterian, according to city treasurer Dennis Danner.

The city will sell $67.35 million of the series 2009A bonds and $37.5 million each of the series 2009B-E bonds.

Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. will act as underwriters for the negotiated deal.

Proceeds will be used to refund outstanding debt as well as replace and maintain hospital facilities.

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