Published on 10/16/2012 in the Prospect News Municipals Daily.
New Issue: Dignity Health, Calif., sells $600 million of upsized taxable bonds
By Sheri Kasprzak
New York, Oct. 16 - Dignity Health of California priced $600 million of series 2012 taxable bonds, according to an official statement. The offering was upsized from $500 million.
The bonds (A3/A/A), due 2022 and 2042, were sold through Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
The 2022 bonds have a 3.125% coupon priced at 99.632 to yield 3.168%, and the 2042 bonds have a 4.5% coupon priced at 98.651 to yield 4.583%.
Proceeds will be used to finance general corporate purposes of the obligated group, including the refinancing of a $310 million line of credit.
| Issuer: | Dignity Health
|
| Issue: | Series 2012 taxable bonds
|
| Amount: | $600 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); BMO Capital Markets, Mizuho Securities, SMBC Nikko and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $300 million | Nov. 1, 2022 | Term | 3.125% | 99.632 | 3.168%
|
| $300 million | Nov. 1, 2042 | Term | 4.5% | 98.651 | 4.583%
|
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