Palomar Pomerado Health, Calif., preps $166.02 million sale of COPs

By Sheri Kasprzak

New York, Nov. 1 - Palomar Pomerado Health of California is set to sell $166.015 million of series 2010 certificates of participation, according to a preliminary official statement.

The COPs (Baa3//BB+) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager.

The maturities have not been set.

Proceeds will be used to finance or reimburse Palomar Pomerado for the cost of constructing, equipping, acquiring and upgrading its hospital facilities.

Based in Escondido, Calif., Palomar Pomerado operates Palomar Medical Center in Escondido and Pomerado Hospital in Poway.

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