Stowers Institute, Mo., to continue bids on 2000, 2002 research bonds

By Ashley Montgomery

Kansas City, Kan., March 20 - Stowers Resource Management Inc. and Stowers Institute for Medical Research intend to continue to submit bids in the auctions for the remainder of the $215 million of series 2000 and $75 million of series 2002 medical research facilities auction-rate revenue bonds, according to a notice.

The bonds were sold for Stowers Institute through the Health and Education Facilities Authority of the State of Missouri.

In the latest auctions, on March 13 and March 14, Stowers made no purchases.

Stowers said it would continue to bid in each auction at a rate of Sifma Municipal Swap index plus a spread of 25 basis points. Stowers is bidding for all of the outstanding bonds that it does not yet own.

According to the notice, Stowers holds $213,325,000 of the series 2000 bonds and $72.05 million of the series 2002 bonds.

Stowers is a Kansas City, Mo.-based biomedical research institution.

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