San Francisco is making plans to sell $136 million of one-year bond anticipation notes next month to finance the first phase of the rebuilding of San Francisco General Hospital.

California’s fourth-largest city would normally sell long-term debt to begin the $887 million construction project, which was approved by voters last month. But officials have been forced to make back-up plans in the face of rising long-term rates and undersubscribed sales by major issuers like the California Department of Water Resources.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.