New Mexico Hospital Equipment to sell $170 million in revenue bonds

By Sheri Kasprzak

New York, Oct. 31 - The New Mexico Hospital Equipment Loan Council plans to sell $170 million in series 2008 hospital system revenue bonds, according to a preliminary official statement released Friday.

The sale includes $100 million in series 2008A fixed-rate bonds and $70 million in series 2008E term-rate bonds. The 2008A bonds are tentatively set to price the week of Nov. 10, and the 2008E bonds are scheduled to price the week of Nov. 24, a sellside source told Prospect News Friday.

The bonds (Aa3/AA-/AA-) will be sold for Presbyterian Health Services. The 2008A bonds are due 2010 to 2018 with term bonds due 2023, 2027 and 2034. The 2008E bonds are due 2034.

Goldman, Sachs & Co. is the senior manager for the negotiated offering.

Proceeds will be used to reimburse Presbyterian for the construction and equipment of a new base station for the Albuquerque Ambulance Service. The rest will be used for the construction of a new parking garage at Presbyterian and for capital expenditures.

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