Newport Beach, Calif., offers $107.11 million bonds for Hoag Memorial

By Sheri Kasprzak

New York, Jan. 14 - The City of Newport Beach, Calif., is set to price $107.105 million of series 2011A revenue bonds for the Hoag Memorial Hospital Presbyterian, according to a preliminary official statement.

The bonds (Aa3/AA/) will be sold through Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.

The maturities have not been set.

Proceeds will be used to construct an acute care hospital for Hoag, as well as to make additions and improvements at the hospital's facilities.

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