West Shore Area Authority, Pa., to sell $58.42 million revenue bonds for Holy Spirit Hospital

By Sheri Kasprzak

New York, Jan. 5 - The West Shore Area Authority of Pennsylvania is expected to price $58.415 million of series 2011 hospital revenue bonds for the Holy Spirit Hospital of the Sisters of Christian Charity, according to a preliminary official statement.

The bonds (/BBB+/BBB+) will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager. The co-managers are Janney Montgomery Scott LLC, RBC Capital Markets Corp. and PNC Capital Markets.

The bonds are due 2012 to 2022 with term bonds due 2026, 2032 and 2041.

Proceeds will be used to finance the construction and acquisition of capital projects, as well as to refund existing debt.

Based in East Pennsboro, Pa., the authority provides funding for hospitals and health care centers. The hospital is also based in East Pennsboro.

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