Rush University Medical Center, Ill., to tender, convert, reoffer $96.75 million series 2006B auction bonds

By Cristal Cody

Springdale, Ark., May 12 - Rush University Medical Center plans to convert and reoffer $96.75 million auction-rate revenue refunding bonds through the Illinois Finance Authority, according to a preliminary reoffering circular.

The series 2006B bonds will be tendered and converted to a long-term rate on May 28.

The bonds have serial maturities from 2012 through 2018 and term bonds in 2023, 2028 and 2035.

The bonds are insured by MBIA Insurance Corp.

Morgan Stanley is the senior remarketing agent. Co-remarketing agents are Citigroup Global Markets, Loop Capital Markets LLC, JPMorgan and William Blair & Co.

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