Maryland Health's Adventist Health Care bonds have mandatory tender

By Marisa Wong

Madison, Wis., Nov. 12 - The Maryland Health and Higher Educational Facilities Authority said that its Adventist Health Care series 2005A revenue bonds are subject to a mandatory tender for purchase on Dec. 2.

The bonds will be purchased at par plus accrued interest to the mandatory tender date.

The mandatory tender follows from the substitution of a letter of credit. The bonds are currently secured by a letter of credit issued by LaSalle Bank NA. On the mandatory tender date the LaSalle letter of credit will be substituted with one issued by Union Bank, NA.

Manufacturers and Traders Trust Co. is the trustee.

Adventist is a Rockville, Md.-based non-profit network of health care providers.

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