Published on 10/25/2012 in the Prospect News Municipals Daily.
New Issue: California Health brings $65 million Chinese Hospital Association bonds
By Sheri Kasprzak
New York, Oct. 25 - The California Health Facilities Financing Authority sold $65 million of series 2012 revenue bonds for the Chinese Hospital Association, according to a pricing sheet.
The bonds (/A-/A-) were sold through Bank of America Merrill Lynch.
The bonds are due 2016 to 2027 with term bonds due in 2032, 2037 and 2042. Coupons range from 3% to 5%. The 2032 bonds have a 3.75% coupon priced at 98.767, the 2037 bonds have a 5% coupon priced at 108.791 and the 2042 bonds have a 5% coupon priced at 108.21.
Proceeds will be used to construct, equip, renovate, acquire and design a new hospital for the association.
| Issuer: | California Health Facilities Financing Authority/Chinese Hospital Association
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $65 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Standard & Poor's: A-
|
| Fitch: A-
|
| Pricing date: | Oct. 25
|
| Settlement date: | Nov. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,285,000 | 2016 | Serial | 4% | 109.592
|
| $1,345,000 | 2017 | Serial | 5% | 115.478
|
| $1.41 million | 2018 | Serial | 4% | 111.765
|
| $1.47 million | 2019 | Serial | 5% | 117.76
|
| $1.53 million | 2020 | Serial | 3% | 103.986
|
| $1,595,000 | 2021 | Serial | 5% | 117.729
|
| $1,675,000 | 2022 | Serial | 5% | 117.977
|
| $1,765,000 | 2023 | Serial | 5% | 116.61
|
| $1,835,000 | 2024 | Serial | 3% | 98.363
|
| $1.91 million | 2025 | Serial | 5% | 115.35
|
| $2,005,000 | 2026 | Serial | 5% | 114.816
|
| $2,095,000 | 2027 | Serial | 3.5% | 99.433
|
| $11.72 million | 2032 | Term | 3.75% | 98.767
|
| $14,605,000 | 2037 | Term | 5% | 108.791
|
| $18,755,000 | 2042 | Term | 5% | 108.21
|
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