North Carolina Medical Care Commission to bring $123.13 million in bonds for Rex Health Care

By Sheri Kasprzak

New York, Sept. 22 - The North Carolina Medical Care Commission is expected to price $123.125 million in series 2010A health-care facilities revenue and revenue refunding bonds for Rex Health Care, said a preliminary official statement.

The bonds (A1/A+/A+) will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager. The co-managers are BB&T Capital Markets and Wells Fargo Securities LLC.

The bonds are due 2011 to 2025 with a term bond due July 1, 2030.

Proceeds will be used to reimburse the health-care system for costs associated with the construction, renovation and equipment of Rex Health Care facilities. The remainder will be used to refund existing debt.

Rex Health Care is based in Raleigh, N.C.

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