Virtua plans to sell bonds to help finance the new hospital, but the current volatile bond market has caused executives not to sell until conditions improve. As of mid-February, Virtua had put $70 million cash towards the $463 million project. The company hopes to sell $600 million worth of bonds by the end of Spring 2009.
The proposed hospital is scheduled to be completed in 2011.
Read the report on Virtua’s financing troubles.
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