Allegheny University Medical Centers Completes Tender Offer.Business Editors PITTSBURGH--(BUSINESS WIRE)--Aug. 9, 2000 Allegheny University Medical Centers today announced the successful completion of its tender offer for all of the outstanding Monroeville Hospital Authority Hospital Revenue Bonds, Series of 1992 (Forbes Health System) and Monroeville Hospital Authority Hospital Revenue Bonds, Series of 1995 (Forbes Health System), which tender offer expired at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on August 7, 2000. A total of $66,120,000 of principal amount of Bonds were tendered in the offer and accepted for payment by Allegheny University Medical Centers, representing approximately 91.66% of the outstanding Bonds. Allegheny County Hospital Development Authority also announced today that it intends to issue and deliver on August 9, 2000, approximately $465,000,000 in aggregate principal amount of its Health System Revenue Bonds, Series 2000A (West Penn Allegheny Health System West Penn Allegheny Health System (WPAHS) is the second-largest provider of healthcare in metropolitan Pittsburgh, Pennsylvania, USA. It competes against much-larger UPMC. ) and its Health System Revenue Bonds, Series 2000B (West Penn Allegheny Health System). As contemplated by the Offer to Purchase and Consent Solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with Statement, dated June 30, 2000, and the related Consent and Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. , the tender offer is conditioned upon the consummation of the Series 2000 Bond Offering. Pursuant to the consent solicitation, holders of a majority of the outstanding principal amount of the Bonds have consented to the proposed amendments to the Master Trust Indenture governing the Bonds, as described in the Offer to Purchase and Consent Solicitation Statement. Consequently, any Bond not tendered pursuant to the tender offer will be subject to the terms and conditions of the Master Trust Indenture as amended by the proposed amendments. AUMC AUMC area under the moment curve operates several health care facilities in the Pittsburgh, Pennsylvania area and serves as the sole corporate member of AUMC-Canonsburg. Allegheny Valley Hospital, a 237-licensed bed acute care hospital, Forbes Regional Hospital, a 317-licensed bed acute care hospital, Forbes Hospice, an 8-bed inpatient unit providing services to the terminally ill Terminally Ill When a person is not expected to live more than 12 months. Notes: Any gifts given out by the afflicted person at this time may be considered as a dispersion of the estate rather than a gift. and their families, Forbes Nursing Center, a 134-licensed bed skilled nursing facility skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. , and Forbes Residence, a 38-bed assisted living facility, are each operated as divisions of AUMC. |
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