Grand Traverse Hospital, Mich., to sell $50 million refunding bonds for Munson Healthcare

By Sheri Kasprzak

New York, July 19 - The County of Grand Traverse Hospital Finance Authority of Michigan is set to price $50 million of series 2011A revenue refunding bonds for the Munson Healthcare Obligated Group, according to a preliminary official statement.

The bonds (A1//AA-) will be sold on a negotiated basis with Bank of America Merrill Lynch as the underwriter.

The bonds are due 2012 to 2026 with term bonds, the maturities of which have not been set.

Proceeds will be used to purchase and cancel the obligated group's series 1998A revenue bonds, as well as refund its series 2001A, 2002A and 2005A-B revenue bonds.

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