New Hanover, N.C., rescinds redemption of 1999 hospital revenue bonds

By Marisa Wong

Madison, Wis., Nov. 22 - The County of New Hanover, N.C., said that it revoked the redemption of its New Hanover Regional Medical Center Project series 1999 hospital revenue bonds.

The bonds were originally to be redeemed on Dec. 6 at 100.5.

Affected are the following bonds:

• $2.785 million of 5.25% bonds due Oct. 1, 2011;

• $2.93 million of 5.25% bonds due Oct. 1, 2012;

• $3.08 million of 5.25% bonds due Oct. 1, 2013;

• $3.25 million of 4.75% bonds due Oct. 1, 2014;

• $18.79 million of 5% bonds due Oct. 1, 2019; and

• $67.27 million of 5% bonds due Oct. 1, 2028.

The issuer said it canceled the redemption because of adverse market conditions affecting the issuance of refunding bonds to refund the 1999 bonds.

U.S. Bank NA is the trustee.

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