Published on 11/7/2012 in the Prospect News Municipals Daily.
New Issue: Middleburg Heights, Ohio, sells $54.36 million Southwest General bonds
By Sheri Kasprzak
New York, Nov. 7 - Middleburg Heights, Ohio, priced $54,355,000 of series 2012A hospital facilities revenue bonds for the Southwest General Health System, according to a pricing sheet.
The bonds (A2) were sold through Ziegler Capital Inc. and Fifth Third Securities Inc.
The bonds are due 2013 to 2020 with a term bond due in 2047. The serial coupons range from 2% to 4%. The 2047 bonds have a split maturity with a 4% coupon priced at 97.7 and a 5% coupon priced at 107.95.
Proceeds will be used to construct, equip, furnish and acquire a new patient tower at Southwest Hospital in Middleburg Heights.
| Issuer: | Middleburg Heights, Ohio/Southwest General Health System
|
| Issue: | Series 2012A hospital facilities revenue bonds
|
| Amount: | $54,355,000
|
| Type: | Negotiated
|
| Underwriters: | Ziegler Capital Inc. and Fifth Third Securities Inc. (lead)
|
| Ratings: | Moody's: A2
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 29
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.04 million | 2013 | Serial | 2% | 100.971
|
| $270,000 | 2014 | Serial | 2% | 102.072
|
| $690,000 | 2015 | Serial | 3% | 105.124
|
| $665,000 | 2016 | Serial | 3% | 106.075
|
| $705,000 | 2017 | Serial | 3% | 106.509
|
| $845,000 | 2018 | Serial | 4% | 111.81
|
| $845,000 | 2019 | Serial | 4% | 111.439
|
| $840,000 | 2020 | Serial | 4% | 110.41
|
| $25 million | 2047 | Term | 4% | 97.7
|
| $23,455,000 | 2047 | Term | 5% | 107.95
|
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