Quincy Medical Center revenue bond holders to receive $10.42 million

By Caroline Salls

Pittsburgh, Dec. 23 - Holders of Massachusetts Health and Educational Facilities Authority series A (2008) revenue bonds, Quincy Medical Center issue, will receive a $10.42 million second default distribution on Dec. 28, according to a notice from trustee U.S. Bank NA.

The trustee said the debtors in Quincy Medical Center's bankruptcy case distributed $9.67 million on Dec. 9.

U.S. Bank said it will distribute the amount, plus an additional $750,000 of funds reserved from an Oct. 25 default distribution, to the bondholders on Dec. 28.

The distribution represents a payment of $179.177757 per $1,000 principal amount of bonds, according to the release.

The trustee said it expects one or more future distributions to be made to the bondholders following the resolution of administrative and priority claims.

Quincy Medical Center emerged from Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Massachusetts on Dec. 7. Its Chapter 11 case number is 11-16394.

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