Mississippi Development Bank plans $81.26 million special obligation bonds for Magnolia Health

By Sheri Kasprzak

New York, April 18 - The Mississippi Development Bank is set to sell $81.26 million of series 2011A special obligation bonds for Magnolia Regional Health Center, said a preliminary official statement.

The bonds (Baa2) will be sold on a negotiated basis with Morgan Keegan & Co. Inc. as the senior manager.

The bonds are due 2011 to 2022 with term bonds due 2026, 2031 and 2036.

Proceeds will be used to finance the construction, improvement, furnishing and equipment of the imaging department, registration and pre-admission testing department, emergency department and surgical center at Magnolia Regional. The remainder will be used to refund the health center's series 1998 bonds.

Located in Jackson, the development bank provides loans for economic development projects. Based in Corinth, Miss., Magnolia Regional is an acute-care health facility.

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