North Carolina Medical Care Commission to sell $120 million bonds for Duke University Health

By Sheri Kasprzak

New York, April 7 - The North Carolina Medical Care Commission expected to sell $120 million in series 2010A health care facilities revenue bonds, according to a preliminary official statement. The bonds will be issued for Duke University Health System.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are J.P. Morgan Securities Inc., Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities Inc.

The maturities have not been set.

Proceeds from the deal will be used to fund the cost of additional health care facilities.

Based in Cary, N.C., the commission adopts, recommends and rescinds rules for most health care facilities within the state, as well as provides funding for the facilities.

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