Harris County, Texas, defeases $290.83 million Memorial Hermann bonds

By Tali David

Minneapolis, March 28 - Harris County Health Facilities Development Corp. of Texas defeased $63.83 million of its series 2004A hospital revenue bonds and $227 million of its series 2008B hospital revenue refunding bonds issued for the Memorial Hermann Healthcare System, according to a notice.

The following 2004A bonds will be redeemed on Dec. 1, 2014:

• $5.12 million of 5.25% bonds due Dec. 1, 2015;

• $5,385,000 of 5.25% bonds due Dec. 1, 2016;

• $5,665,000 of 5.25% bonds due Dec. 1, 2017;

• $5.96 million of 5.25% bonds due Dec. 1, 2018;

• $6,265,000 of 5% bonds due Dec. 1, 2019;

• $6,595,000 of 5% bonds due Dec. 1, 2020;

• $6,935,000 of 5% bonds due Dec. 1, 2021;

• $7,295,000 of 5.125% bonds due Dec. 1, 2022;

• $7,675,000 of 5.125% bonds due Dec. 1, 2023; and

• $6,935,000 of 5.125% bonds due Dec. 1, 2024.

The following 2008B bonds will be redeemed on Dec. 1, 2014:

• $11.22 million of 7.2% bonds due Dec. 1, 2028; and

• $12,395,000 of 7.2% bonds due Dec. 1, 2029.

The following 2008B bonds will be redeemed on Dec. 1, 2018:

• $27,345,000 of 7% bonds due Dec. 1, 2027;

• $27.95 million of 7.125% bonds due Dec. 1, 2031; and

• $148.09 million of 7.25% bonds due Dec. 1, 2035.

Bank of New York Mellon Trust Co., NA is the escrow agent.

Memorial Hermann is based in Houston.

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