New Issue: Massachusetts Development sells $50 million Cape Cod Health Care bonds

By Sheri Kasprzak

New York, June 25 - The Massachusetts Development Finance Agency priced $50 million of series 2013 hospital revenue bonds for the Cape Cod Health Care Obligated Group, said an official statement.

The bonds (/A-/A-) were sold through senior manager BofA Merrill Lynch.

The securities are due 2023 to 2028 with term bonds due in 2033, 2036 and 2041. The serial coupons range from 4% to 4.25% with yields from 3.84% to 4.59%. The 2033 bonds have a 4.5% coupon priced at 97.137 to yield 4.72%. The 2036 bonds have a 5.25% coupon priced at 103.052 to yield 4.87% and the 2041 bonds have a 5.25% coupon priced at 102.317 to yield 4.96%.

Proceeds will be used to construct, equip and renovate Cape Code Health facilities in Hyannis, Mass., Falmouth, Mass., West Chatham, Mass., and Sandwich, Mass., as well as to refund existing debt.

Issuer:	Massachusetts Development Finance Agency/Cape Cod Health Care Obligated Group
Issue:	Series 2013 hospital revenue bonds
Amount:	$50 million
Type:	Negotiated
Underwriter:	BofA Merrill Lynch (lead)
Ratings:	Standard & Poor's: A-
	Fitch: A-
Pricing date:	June 19
Settlement date:	July 11
Amount	Maturity	Type	Coupon	Price	Yield
$325,000	2023	Serial	4%	101.351	3.84%
$535,000	2024	Serial	4.5%	105.062	3.90%
$650,000	2025	Serial	4%	98.653	4.14%
$695,000	2026	Serial	4.125%	98.232	4.30%
$780,000	2027	Serial	4.25%	97.891	4.45%
$860,000	2028	Serial	4.25%	99.011	4.59%
$5.49 million	2033	Term	4.5%	97.137	4.72%
$8.33 million	2036	Term	5.25%	103.052	4.87%
$32,335,000	2041	Term	5.25%	102.317	4.96%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.