Delnor-Community Hospital, Ill., plans to tender, remarket $74.05 million revenue bonds

By Cristal Cody

Springdale, Ark., May 5 - Delnor-Community Hospital plans to remarket $74.05 million revenue bonds through the Illinois Health Facilities Authority, according to a remarketing circular.

The bonds will be remarketed after a mandatory tender and conversion to a fixed rate.

The $6 million series 2002A bonds due May 15, 2022, $6 million series 2002B bonds due May 15, 2025, $6 million series 2002C bonds due May 15, 2027 and $17 million series 2002D bonds due May 15, 2032 will be converted on May 23.

The hospital also set June 4 as the conversion date for the $27.7 million series 2003A bonds with serial maturities from 2009 through 2024, $6.15 million series 2003B bonds due May 15, 2032 and $5.2 million series 2003C bonds due May 15, 2033.

The bonds are insured by Financial Security Assurance.

Morgan Stanley is the remarketing agent.

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