Silver Cross Hospital, Ill., to sell $250 million bonds Wednesday

By Sheri Kasprzak

New York, May 22 - The Illinois Finance Authority is set to price $250 million in series 2009 revenue bonds for the Silver Cross Hospital and Medical Centers, according to a calendar of upcoming deals.

The bonds (/BBB/BBB+) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-manager is Barclays Capital Inc.

Proceeds will be used to reimburse the hospital for costs related to constructing a replacement hospital and making a deposit to a debt service reserve fund.

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