Rush University Medical Center plans to restructure $101.2 million auction rate securities

By Cristal Cody

Springdale, Ark., March 10 - Rush University Medical Center Obligated Group in Chicago intends to convert $101.2 million revenue refunding bonds from auction-rate mode, according to a notice released Monday.

The series 2006 B-1 and 2006 B-2 bonds of $50.6 million each were priced through the Illinois Finance Authority.

The MBIA-insured bonds will be converted to another type of interest mode.

The medical center said it is not certain when or if the restructuring will be completed.

Additional comment was not available.

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