Maine Health and Higher Educational Facilities Authority plans $95 million sale of revenue bonds

By Sheri Kasprzak

New York, March 26 - The Maine Health and Higher Educational Facilities Authority is expected to sell $95 million in series 2010A revenue bonds, according to a preliminary official statement.

The bonds (Aa3//AA) will be sold on a negotiated basis with Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. as the senior managers. The co-managers are Wells Fargo Securities Inc., Barclays Capital Inc. and Cain Brothers.

The maturities have not been determined.

The authority plans to use the proceeds to make a deposit to its construction fund, as well as to refund existing debt.

Located in Augusta, Maine, the authority issues bonds to finance loans for nonprofit higher educational institutions and health care facilities.

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