LOS ANGELES -- A New Jersey-based bond dealer is unhappy with a California hospital's recent decision to call escrowed-to-maturity debt and has asked the Securities and Exchange Commission to examine whether the issuer acted properly in calling the bonds before maturity.

On Oct. 1, Memorial Health Services, a nonprofit medical center in Long Beach, Calif., redeemed at par the remaining bonds from a $15 million issue sold in 1974.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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