Flint Hospital, Mich., to sell $58.86 million of Hurley Medical bonds

By Sheri Kasprzak

New York, Feb. 12 - The Flint Hospital Building Authority of Michigan is expected to price $58,855,000 of series 2013 revenue refunding bonds for the Hurley Medical Center, according to a preliminary official statement.

The deal includes $21,915,000 of series 2013A revenue rental bonds and $36.94 million of series 2013B revenue refunding bonds.

The bonds (Ba1//BB+) will be sold on a negotiated basis with Raymond James/Morgan Keegan as the senior manager.

The maturities have not been set.

Proceeds will be used to finance the equipment, renovation, construction and acquisition of medical center facilities, as well as to upgrade technology and refund the medical center's series 1998A-B and 2003 revenue bonds.

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