UPDATE 1-Ventura County Authority to sell $300 mln revs -official

Wed Feb 13, 2013 12:28pm EST

Feb 13 (Reuters) - California's Ventura County Public Financing Authority is planning to sell $300 million of lease revenue bonds during the week of Feb. 25, a county official said on Wednesday.

"At this time it is expected the bonds will have a one-day retail order period on Feb. 26, with institutional pricing to follow on Feb. 27," said Paul Derse, chief financial officer of Ventura County.

"Proceeds from the sale will be primarily used to finance a new replacement wing of the Ventura County Medical Center," Derse added.

The lead manager on the sale is Citigroup.

The bonds are rated Aa3 by Moody's Investors Service and AA by both Standard & Poor's Ratings Services and Fitch Ratings.

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