By Sheri Kasprzak
New York, June 8 - The Connecticut Health and Educational Facilities Authority priced $250 million of series J hospital revenue bonds for the Stamford Hospital, said a pricing sheet.
The bonds (/A-/A) were sold through Goldman, Sachs & Co. The co-managers were Bank of America Merrill Lynch and J.P. Morgan Securities LLC.
The bonds are due 2017 to 2022 with term bonds due in 2027, 2031, 2032, 2034, 2035, 2037, 2038 and 2042. The serial coupons range from 3.25% to 5%.
The 2027 bonds have a 4% coupon priced at 97.242, the 2031 bonds have a 4.25% coupon priced at 97.449 and the 2032 bonds have a 5% coupon priced a104.904. The 2034 bonds have a 5% coupon priced at 103.835 and the 2037 bonds have a 5% coupon priced at 102.375. The 2038 bonds have a 4.5% coupon priced at 96.721 and the 2042 bonds have a 5% coupon priced at 101.974.
Proceeds will be used to acquire, construct and equip a diagnostic and treatment building for the hospital and modernize the emergency department, as well as make other capital improvements to the hospital's facilities.
Issuer: | Connecticut Health and Educational Facilities Authority/Stamford Hospital
|
Issue: | Series J hospital revenue bonds
|
Amount: | $250 million
|
Type: | Negotiated
|
Underwriters: | Goldman, Sachs & Co. (lead), Bank of America Merrill Lynch and J.P. Morgan Securities LLC (co-managers)
|
Ratings: | Standard & Poor's: A-
|
| Fitch: A
|
Pricing date: | June 7
|
Settlement date: | June 20
|
|
Amount | Maturity | Type | Coupon | Price
|
$1,585,000 | 2017 | Serial | 4% | 110.231
|
$1,665,000 | 2018 | Serial | 5% | 115.793
|
$1.76 million | 2019 | Serial | 4% | 109.412
|
$1.85 million | 2020 | Serial | 5% | 115.489
|
$1.96 million | 2021 | Serial | 5% | 114.864
|
$2,075,000 | 2022 | Serial | 3.25% | 99.575
|
$11.88 million | 2027 | Term | 4% | 97.242
|
$21.36 million | 2031 | Term | 4.25% | 97.449
|
$15 million | 2032 | Term | 5% | 104.904
|
$21.13 million | 2034 | Term | 5% | 103.835
|
$20 million | 2035 | Term | 5.125% | 104.999
|
$18 million | 2037 | Term | 5% | 102.375
|
$25,735,000 | 2038 | Term | 4.5% | 96.721
|
$100 million | 2042 | Term | 5% | 101.974
|
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