Michigan authority to redeem $40.88 million of hospital revenue bonds

By Devika Patel

Knoxville, Tenn., Oct. 18 - The Michigan State Hospital Finance Authority said it will redeem all $40.88 million of its series 2001 hospital revenue and refunding bonds, which were sold for the Sparrow Obligated Group in October 2001.

The bonds will be redeemed at 101 plus interest on Nov. 15.

Affected bonds include the following:

• $4.4 million of 5.75% bonds due Nov. 15, 2016;

• $5.8 million of 5.5% bonds due Nov. 15, 2021;

• $17.56 million of 5.625% bonds due Nov. 15, 2031; and

• $13.12 million of 5.625% bonds due Nov. 15, 2036.

U.S. Bank NA (800 934-6802) is the trustee.

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