By Sheri Kasprzak
New York, Oct. 6 - The California Statewide Communities Development Authority sold $292.6 million in series 2010 revenue bonds for the Cottage Health System Obligated Group, according to a pricing sheet.
The bonds (/A+/AA-) were sold through Morgan Stanley & Co. Inc.
The bonds are due 2011 to 2020 with term bonds due 2030 and 2040. Coupons range from 2% to 5%. The 2030 bonds have a 5.25% coupon priced at 105.01. The 2040 bonds have a 5% coupon priced at par.
Proceeds will be used to refund the health system's series 2008A-E variable-rate revenue bonds and to make payments to terminate the group's interest rate swaps.
| Issuer: | California Statewide Communities Development Authority/Cottage Health System Obligated Group
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $292.6 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: AA-
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.735 million | 2011 | Serial | 2% | NRO
|
| $4.255 million | 2012 | Serial | 3% | 102.826
|
| $4.38 million | 2013 | Serial | 4% | 105.791
|
| $4.555 million | 2014 | Serial | 4% | 106.269
|
| $4.735 million | 2015 | Serial | 5% | 110.601
|
| $2 million | 2016 | Serial | 4% | 105.365
|
| $2.975 million | 2016 | Serial | 5% | 110.84
|
| $5.2 million | 2017 | Serial | 5% | 110.522
|
| $2.35 million | 2018 | Serial | 4% | 103.048
|
| $3.115 million | 2018 | Serial | 5% | 109.98
|
| $5.715 million | 2019 | Serial | 5% | 108.86
|
| $6 million | 2020 | Serial | 5% | 108.108
|
| $80.17 million | 2030 | Term | 5.25% | 105.01
|
| $163.415 million | 2040 | Term | 5% | 100
|
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