Published on 7/20/2015 in the Prospect News Municipals Daily.
New Issue: Colorado Health prices $204.29 million of Evangelical Lutheran bonds
By Sheri Kasprzak
New York, July 20 – The Colorado Health Facilities Authority sold $204.29 million of series 2015A health facilities revenue and refunding bonds for the Evangelical Lutheran Good Samaritan Society, according to a pricing sheet.
The bonds (Baa1/BBB+/A-) were sold through Citigroup Global Markets Inc. and Herbert J. Sims & Co.
The bonds are due 2016 to 2036 with term bonds due in 2040 and 2045. The serial coupons range from 2% to 5% with yields from 0.88% to 4.2%. The 2040 bonds have a 5% coupon priced at 105.159 to yield 4.35%, and the 2045 bonds have a 5% coupon priced at 104.506 to yield 4.43%.
Proceeds will be used to finance construction, equipment, improvement and renovation of home health and nursing facilities in Kissimmee, Fla.; Jeffersontown, Ky.; Waconia, Minn.; Pine River, Minn.; Grand Island, Neb.; Sioux Falls, S.D.; Denton, Texas; Hurst, Texas; Mesquite, Texas; and El Paso, Texas.
| Issuer: | Colorado Health Facilities Authority/Evangelical Lutheran Good Samaritan Society
|
| Issue: | Series 2015A health facilities revenue and refunding bonds
|
| Amount: | $204.29 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Herbert J. Sims & Co.
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: BBB+
|
| Fitch: A-
|
| Pricing date: | July 10
|
| Settlement date: | July 23
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $145,000 | 2016 | Serial | 2% | 100.952 | 0.88%
|
| $3,025,000 | 2017 | Serial | 3% | 103.199 | 1.25%
|
| $3.11 million | 2018 | Serial | 3% | 103.777 | 1.64%
|
| $5,035,000 | 2019 | Serial | 4% | 107.731 | 1.91%
|
| $5.24 million | 2020 | Serial | 4% | 107.956 | 2.26%
|
| $5,735,000 | 2021 | Serial | 5% | 112.78 | 2.63%
|
| $6,225,000 | 2022 | Serial | 5% | 112.702 | 2.94%
|
| $6,565,000 | 2023 | Serial | 5% | 112.855 | 3.14%
|
| $6,905,000 | 2024 | Serial | 5% | 113.04 | 3.29%
|
| $7.27 million | 2025 | Serial | 5% | 113.12 | 3.42%
|
| $6.74 million | 2026 | Serial | 5% | 111.7 | 3.58%
|
| $7,075,000 | 2027 | Serial | 5% | 110.475 | 3.72%
|
| $4.67 million | 2028 | Serial | 5% | 109.61 | 3.82%
|
| $4,955,000 | 2029 | Serial | 5% | 108.924 | 3.90%
|
| $5.24 million | 2030 | Serial | 5% | 108.328 | 3.97%
|
| $5.56 million | 2031 | Serial | 5% | 107.989 | 4.01%
|
| $5.91 million | 2032 | Serial | 5% | 107.567 | 4.06%
|
| $6.27 million | 2033 | Serial | 5% | 107.231 | 4.10%
|
| $6,635,000 | 2034 | Serial | 5% | 106.729 | 4.16%
|
| $3,835,000 | 2035 | Serial | 5% | 106.396 | 4.20%
|
| $2.36 million | 2036 | Serial | 5% | 106.065 | 4.24%
|
| $24,355,000 | 2040 | Term | 5% | 105.159 | 4.35%
|
| $71.43 million | 2045 | Term | 5% | 104.506 | 4.43%
|
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