Iowa Health 2008A bonds remarketed following interest rate conversion

By Angela McDaniels

Tacoma, Wash., Aug. 20 - Iowa Health System elected to convert the interest on its $75 million subseries 2008A-1 and $75 million subseries 2008A-2 demand health facilities revenue bonds from a variable rate to a fixed rate.

The bonds were issued through the Iowa Finance Authority.

Because the interest-rate mode was converted, bondholders were required to tender their holdings to the Iowa Finance Authority, who remarketed the bonds.

The conversion and repurchase occurred on Aug. 6, according to a notice from Iowa Finance Authority.

Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc. were the remarketing agents.

The authority and health system are both based in Des Moines.

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