Published on 3/7/2014 in the Prospect News Municipals Daily.
New Issue: Missouri Health offers up $200 million BJC Health System revenue bonds
By Sheri Kasprzak
New York, March 7 - The Missouri Health and Educational Facilities Authority priced $200 million of series 2014 health facilities revenue bonds for BJC Health System, said a pricing sheet.
The bonds (Aa2/AA/) were sold through senior manager RBC Capital Markets LLC.
The bonds are due 2017 to 2034 with term bonds due in 2039 and 2044. The serial coupons range from 4% to 5% with yields from 0.49% to 4.27%. The 2039 bonds have a 4.5% coupon priced at par. The 2044 bonds have a 5% coupon priced at 104.728 to yield 4.4%.
Proceeds will be used to finance and refinance the construction and improvement of BJC facilities within the state.
| Issuer: | Missouri Health and Educational Facilities Authority/BJC Health System
|
| Issue: | Series 2014 health facilities revenue bonds
|
| Amount: | $200 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead); Stifel, Nicolaus & Co. Inc.; J.P. Morgan Securities LLC; PNC Capital Markets LLC; and U.S. Bancorp Investments Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | March 7
|
| Settlement date: | March 13
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.95 million | 2017 | Serial | 5% | 112.525 | 0.49%
|
| $3,995,000 | 2018 | Serial | 5% | 115.525 | 0.84%
|
| $4.06 million | 2019 | Serial | 5% | 117.722 | 1.19%
|
| $3,935,000 | 2020 | Serial | 5% | 118.393 | 1.66%
|
| $2 million | 2021 | Serial | 2% | 99.493 | 2.08%
|
| $2.02 million | 2021 | Serial | 5% | 118.423 | 2.08%
|
| $4,005,000 | 2022 | Serial | 5% | 118.079 | 2.44%
|
| $4.01 million | 2023 | Serial | 5% | 117.476 | 2.75%
|
| $1.89 million | 2024 | Serial | 5% | 117.425 | 2.94%
|
| $1,945,000 | 2024 | Serial | 3% | 100.505 | 2.94%
|
| $3,695,000 | 2025 | Serial | 5% | 115.216 | 3.18%
|
| $3.51 million | 2026 | Serial | 5% | 113.951 | 3.32%
|
| $3,365,000 | 2027 | Serial | 5% | 112.613 | 3.47%
|
| $3.11 million | 2028 | Serial | 5% | 111.469 | 3.6%
|
| $2,875,000 | 2029 | Serial | 5% | 110.512 | 3.71%
|
| $2,815,000 | 2030 | Serial | 5% | 109.65 | 3.81%
|
| $2.4 million | 2031 | Serial | 4% | 99.39 | 4.05%
|
| $1.98 million | 2032 | Serial | 4.15% | 100 | 4.15%
|
| $1.66 million | 2033 | Serial | 4.2% | 99.736 | 4.22%
|
| $1.54 million | 2034 | Serial | 4.25% | 99.729 | 4.27%
|
| $96.24 million | 2039 | Term | 4.5% | 100 | 4.5%
|
| $45 million | 2044 | Term | 5% | 104.728 | 4.4%
|
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