Scott & White Memorial Hospital and Texas foundation to price $234.23 million bonds June 11

By Cristal Cody

Springdale, Ark., May 28 - The Scott & White Memorial Hospital and the Scott, Sherwood and Brindley Foundation in Texas plan to price $234.225 million refunding revenue bonds on June 11, a source said Wednesday.

The series 2008 variable-rate bonds (Aa3) also will price in a retail order on June 10.

The bonds will price through the Tarrant County Cultural Education Facilities Finance Corp.

Scott & White entered into floating-to-fixed rate swaps with Goldman Sachs Capital Markets and Citibank as counterparties for the 2006 bonds, which will be maintained on the series 2008 bonds to synthetically fix the bonds.

Kaufman Hall and Associates is the financial adviser.

Proceeds will be used to refund Scott & White's series 2006A-D auction rate securities.

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