Thomas Health System, W.Va., plans to price $145 million revenue bonds

By Cristal Cody

Springdale, Ark., June 5 - Thomas Health System tentatively plans to price $145 million revenue bonds on June 17, a source with the issuer said Thursday.

The series 2008 bonds will price through the West Virginia Hospital Finance Authority.

The bonds are due Oct. 1, 2043.

The issuers have not applied for a credit rating on the bonds, according to the preliminary official statement. The health group said that by foregoing the ratings, the bonds are believed to bear interest at higher rates.

Raymond James will manage the negotiated sale.

Proceeds will be used to refinance a $45 million loan used to acquire St. Francis Hospital, construct a six-story hospital pavilion to offer all private rooms to acute and obstetric patients and to purchase equipment.

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