Methodist Healthcare - Memphis Hospitals Announces Tender Offer for The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee Adjustable-Rate Hospital Revenue Bonds, Series 1985C (Methodist
Health Systems, Inc.) ("Series 1985C Bonds") The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee Hospital Revenue Bonds, Series 1995 (Methodist Health Systems,
Inc.) ("Series 1995 Bonds") The Health, Educational and Housing Facility Board of the County of Shelby,
Tennessee Hospital Revenue Bonds, Series 1998 (Methodist Healthcare) ("Series 1998 Bonds" and, together with Series 1985C Bonds and Series 1995
Bonds, the "Bonds")
MEMPHIS, Tenn., Sept. 7 /PRNewswire/ -- Methodist Healthcare -- Memphis Hospitals ("Methodist") announced today that it has commenced a tender offer (the "Offer") for the Bonds.
Pursuant to the Offer, Methodist would like the holders of these Bonds to tender their Bonds in return for a premium price. The Tender Price for the different maturities of each Series is contained in the Offer. The Series 1985C Bonds and Series 1995 Bonds are currently callable and the Series 1998 Bonds are callable beginning April 1, 2008. The Tender Price, subject to the terms and conditions of the tender offer, is one percent (1%) higher than the redemption price Methodist would need to pay if it were to redeem the Bonds at this time (or on April 1, 2008 in the case of the Series 1998 Bonds).
The Offer will expire at 5:00 P.M., New York City time, on October 10, 2007, unless earlier terminated or extended by Methodist in its sole discretion.
Methodist is a Tennessee non-profit corporation that owns and operates
four adult acute-care hospitals in the Memphis, Tennessee area (including
Methodist University Hospital, South Hospital, North Hospital, and
Germantown Hospital) and one pediatric acute-care hospital
|SOURCE Methodist Hospitals|
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