Centra Health in Virginia to bid on $179.13 million auction-rate bonds to lower expenses

By Cristal Cody

Springdale, Ark., April 8 - Centra Health Inc. in Virginia plans to submit interest rate bids of 2.5% on $179.125 million of auction-rate revenue bonds this week to lower its expenses, according to a notice.

The health care group was expected to bid in Tuesday's auctions on $52.7 million series 2004A bonds due Jan. 1, 2028 and $15 million series 2004E bonds due Jan. 1, 2035.

Centra Health also plans to submit bids in the upcoming auctions on Thursday on the $39.5 million series 2004B, $39.125 million series 2004C, $17.8 million series 2004D and $15 million series 2004F bonds.

The bonds are due Jan. 1, 2035.

The seven-day auction bonds are insured by MBIA Insurance Corp.

The bonds priced through the Industrial Development Authority of Lynchburg, Va.

BB&T Capital Markets is the broker dealer.

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