Washington Health Care plans to price $118.27 million bonds for Seattle Children's Hospital

By Sheri Kasprzak

New York, Aug. 13 - The Washington Health Care Facilities Authority is expected to bring $118.27 million in series 2010 revenue bonds for the Seattle Children's Hospital, according to a preliminary official statement.

The offering includes $75 million in series 2010A revenue bonds and $43.27 million in series 2010B refunding revenue bonds.

The bonds (Aa3//AA) will be sold on a negotiated basis with Goldman Sachs & Co. as the senior manager. The co-managers are J.P. Morgan Securities Inc. and Bank of America Merrill Lynch.

The 2010A bonds are due 2035 and 2040. The 2010B bonds are due 2011 to 2022.

Proceeds will be used to reimburse Seattle Children's Hospital for its acquisition of real property, which will be developed and used by the hospital. The remainder will be used to refund the authority's series 1998 bonds.

Based in Olympia, Wash, the authority provides funding for health care facilities throughout the state.

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