Virginia Hospital Center to sell $145 million revenue refunding bonds

By Sheri Kasprzak

New York, March 12 - The Industrial Development Authority of Arlington County in Virginia plans to sell $145 million in series 2010 fixed-rate hospital revenue refunding bonds for the Virginia Hospital Center Arlington Health System, according to a preliminary official statement.

The bonds (A2/A+/) will be sold on a negotiated basis with Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. as the senior managers. The co-managers are BB&T Capital Markets and Wells Fargo Securities Inc.

The bonds are due 2010 to 2020 with term bonds due 2025 and 2031.

Proceeds will be used to fund a loan to the hospital for the purpose of refunding the hospital's series 2005 bonds.

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