Clarian to Convert $701M of ARS into VRDBs

Devitt, Caitlin
May 2008
Bond Buyer;5/14/2008, Vol. 364 Issue 32878, p1
Trade Publication
The article reports that Clarian Health Partners Inc. is converting insured auction-rate securities of up to $701m into weekly variable-rate demand bonds. These bonds will be supported by standby bond purchase agreements and letters of credit. The securities will have insurance from Financial Security Assurance Inc. or from MBIA Insurance Corp. 50% of Clarian's total $1.4bn outstanding debt portfolio will be structured in the variable-rate demand mode once the transaction is completed.


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