Salem, Ore., Hospital Project 2008C bonds have mandatory tender

By Marisa Wong

Madison, Wis., Nov. 19 - The Hospital Facility Authority of the City of Salem, Ore., said its $50 million of Salem Hospital Project variable-rate revenue bonds, series 2008C, are subject to mandatory purchase on Dec. 1.

The bonds, which are due Aug. 15, 2036, will be purchased at par plus accrued interest up to the redemption date.

The mandatory purchase is due to the replacement of the letter of credit issued by Allied Irish Banks, plc, New York branch with a direct-pay letter of credit issued by Bank of America, NA.

U.S. Bank NA is the trustee and agent.

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