Puerto Rico industrial authority plans $113.21 million hospital bonds

By Sheri Kasprzak

New York, June 8 - The Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority is expected to price $113.21 million of series 2011 hospital revenue and refunding bonds for the Hospital Auxilio Mutuo Obligated Group, said a preliminary official statement.

The offering includes $101.6 million of series 2011A revenue and refunding bonds and $11.61 million of series 2011B revenue bonds.

The 2011A bonds will be sold through senior managers J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. The co-managers are FirstBank Puerto Rico Securities and Popular Securities.

The 2011B bonds will be sold through Popular Securities.

The 2011A bonds are due 2015 to 2021 with term bonds due in 2026 and 2033. The 2011B bonds are due 2012 to 2015.

Proceeds will be used to expand existing hospital facilities, as well as refund the obligated group's series 1995 and 1997 bonds.

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