Palmetto Health, S.C., set to sell $128.77 million in revenue bonds

By Sheri Kasprzak

New York, Sept. 9 - The South Carolina Jobs-Economic Development Authority is expected to sell $128.765 million in series 2009 hospital refunding and improvement revenue bonds for Palmetto Health, according to a preliminary official statement.

The bonds (/BBB+/) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. as the senior manager.

The maturities have not been set.

Proceeds will be used to finance or refinance the costs associated with purchasing land, acquiring equipment and constructing or repairing hospital facilities. The remainder will be used to refund existing debt.

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