North Carolina Medical Care to sell $100 million bonds for WakeMed

By Sheri Kasprzak

New York, Jan. 22 - The North Carolina Medical Care Commission is gearing up to sell $100 million in series 2009 health care facilities revenue bonds for WakeMed, according to a preliminary official statement.

The bonds (Aa2//AA-) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager.

The co-managers are BB&T Capital Markets, Edward Jones & Co., Merrill Lynch & Co. and Wachovia Bank.

Proceeds will be used to construct and renovate hospital buildings and a parking garage, as well as expand existing facilities in Cary, N.C., and Raleigh, N.C. The rest will be used to make a deposit to a debt service reserve fund.

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