Tarrant County Cultural Education to price $150.92 million bonds for Texas Health Resources

By Sheri Kasprzak

New York, Nov. 3 - The Tarrant County Cultural Education Facilities Finance Authority in Texas is expected to bring to market $150.92 million of series 2010 revenue bonds for Texas Health Resources System, according to a preliminary official statement.

The bonds (Aa3/AA-/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. and Bank of America Merrill Lynch as the senior managers.

The maturities have not been set.

Proceeds will be used to construct, develop, purchase, reconstruct and renovate health facilities operated by Texas Health Resources, as well as to refund the Texas Health Resources System's series 2008D-G bonds.

Based in Fort Worth, the authority provides funding to health care, educational and other nonprofit organizations. Texas Health Resources, based in Arlington, Texas, operates 13 hospitals and health care facilities.

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