Saint Barnabas buys back portion of 2001B New Jersey Health bonds

By Marisa Wong

Madison, Wis., July 20 - Saint Barnabas Corp. and its affiliate Saint Barnabas Health Care System Foundation, Inc. purchased $54.725 million of the series 2001B auction-rate insured revenue bonds issued by New Jersey Health Care Facilities Financing Authority, according to a notice.

The bonds were purchased in a privately negotiated transaction at a price of $43.78 million plus accrued interest.

All of the purchased bonds have been cancelled. The 2001B bonds that were not purchased, totaling $7.925 million, will remain outstanding.

The Trenton, N.J.-based authority issues bonds for the state's health care organizations. Saint Barnabas is a West Orange, N.J., health care system.

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