Palmetto Health, S.C., to convert, remarket $205.825 million series 2005A refunding revenue bonds

By Cristal Cody

Springdale, Ark., May 16 - Palmetto Health plans to convert and remarket $205.825 million series 2005A refunding revenue bonds, according to a preliminary reoffering circular.

The auction-rate bonds will be converted to a fixed rate on June 12.

The bonds (Aaa/AAA/AAA) priced through the South Carolina Jobs-Economic Development Authority.

The bonds, insured by Financial Security Assurance, have serial maturities from Aug. 1, 2008 to Aug. 1, 2023 and terms in 2028 and 2035.

Merrill Lynch & Co. is the remarketing agent.

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