Published on 2/6/2013 in the Prospect News Municipals Daily.
New Issue: Connecticut Health sells $94.82 million of Yale-New Haven revenue bonds
By Sheri Kasprzak
New York, Feb. 6 - The Connecticut Health and Educational Facilities Authority sold $94,815,000 of series 2013 revenue bonds for Yale-New Haven Hospital Inc., according to an official statement.
The deal included $44,815,000 of series N bonds (Aa3/A+/) and $50 million of series O bonds (Aa1/VMIG 1/AAA/A-1+/).
The series N bonds are due 2019 to 2033 with term bonds due in 2036 and 2048. The serial coupons range from 3.25% to 5%. The 2036 bonds have a 3.5% coupon to yield 3.563%, and the 2048 bonds have a 5% coupon to yield 3.62%.
The series O bonds are due in 2053 and bear interest at the weekly rate.
The bonds were sold through Barclays.
Proceeds will be used to finance and refinance capital projects for the hospital.
| Issuer: | Connecticut Health and Educational Facilities Authority/Yale-New Haven Hospital Inc.
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $94,815,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), J.P. Morgan Securities LLC (co-manager)
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 14
|
|
|
| $44,815,000 series N bonds (Aa3/A+/)
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1.15 million | 2019 | Serial | 4% | 1.54%
|
| $1,195,000 | 2020 | Serial | 4% | 1.83%
|
| $1.24 million | 2021 | Serial | 5% | 2.10%
|
| $1,305,000 | 2022 | Serial | 4% | 2.27%
|
| $1,355,000 | 2023 | Serial | 5% | 2.47%
|
| $1,425,000 | 2024 | Serial | 5% | 2.57%
|
| $1,495,000 | 2025 | Serial | 5% | 2.68%
|
| $1.57 million | 2026 | Serial | 5% | 2.79%
|
| $1.65 million | 2027 | Serial | 5% | 2.86%
|
| $1.73 million | 2028 | Serial | 5% | 2.93%
|
| $1,815,000 | 2029 | Serial | 5% | 3.00%
|
| $1.91 million | 2030 | Serial | 5% | 3.06%
|
| $2,005,000 | 2031 | Serial | 5% | 3.11%
|
| $2,105,000 | 2032 | Serial | 3.25% | 3.32%
|
| $2.17 million | 2033 | Serial | 3.25% | 3.352%
|
| $6.96 million | 2036 | Term | 3.5% | 3.563%
|
| $13,735,000 | 2048 | Term | 5% | 3.62%
|
|
|
| $50 million series O bonds (Aa1/VMIG 1/AAA/A-1+/)
|
| Maturity | Type | Coupon | Price
|
| 2053 | Term | Weekly | 100
|
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