Berks County, Pa., to sell $180 million bonds for Reading Hospital

By Sheri Kasprzak

New York, Feb. 5 - The Berks County Municipal Authority of Pennsylvania is expected to price $180 million in series 2009 variable-rate revenue bonds for the Reading Hospital and Medical Center, according to a preliminary official statement released Thursday.

The sale includes $100 million in series 2009A-1 bonds and $80 million in series 2009A-2 bonds.

The bonds (Aa3/AA/AA-) will be sold on a negotiated basis with RBC Capital Markets Corp. as the senior manager. BB&T Capital Markets is the co-manager for the 2009A-2 bonds.

Both series of bonds initially bear interest at the weekly rate. The 2009A-1 bonds are due Nov. 1, 2044, and the 2009A-2 bonds are due Nov. 1, 2037.

Proceeds will be used to refinance the medical center's series 2005 and 2007 variable-rate revenue bonds.

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