Massachusetts Health to sell $180 million bonds for Anne Arundel

By Sheri Kasprzak

New York, Dec. 5 - The Massachusetts Health and Educational Facilities Authority is planning to price $180 million in series 2008 revenue bonds for Anne Arundel Health System.

The sale will be conducted in two tranches.

The offering includes $120 million in series 2008A bonds and $60 million in series 2008B bonds.

Citigroup Global Markets and Manufacturers and Traders Trust Co. are the lead managers for both sales.

The 2008A bonds are due from 2011 to 2019 with term bonds due 2029 and 2039.

The 2008B bonds are due 2039 and 2039.

Proceeds from both sales will be used for the construction, equipment and acquisition of a new patient tower with 44 additional beds, the expansion of the emergency department, the construction of a new lobby/waiting area/gift shop, the construction of a new cafeteria and kitchen, the construction of a new anatomic/pathology lab and the construction of two floors of shell space.

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