By Sheri Kasprzak
New York, March 26 - The District of Columbia priced $250 million in series 2008 hospital revenue bonds for Children's Hospital on March 20, an official statement said Wednesday.
The bonds (Aaa/AAA/) were sold on a negotiated basis through lead manager UBS Investment Bank.
The offering includes term bonds. The 2018 bonds have a 5.25% coupon and a 4.33% yield. The 2022 bonds have a 4.75% coupon and a 4.93% yield; the 2028 bonds have a 5% coupon and a 5.22% yield; and the 2038 bonds have a 5.25% coupon and a 5.45% yield. The 2045 bonds have a 5.25% coupon and a 5.5% yield.
Proceeds will be used for the construction and renovation of an East Wing facility at the hospital, for the expansion of a surgical services facility at the hospital, for the expansion, redesign and upgrade of the hospital's diagnostic imaging and radiology services departments, expansion of the cardiology outpatient services, gastroenterology clinic and otolaryngology clinic and for working capital.
| Issuer: | District of Columbia/Children's Hospital
|
| Issue: | Series 2008 hospital revenue bonds
|
| Amount: | $250 million
|
| Type: | Negotiated
|
| Underwriter: | UBS Investment Bank
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | March 20
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2018 | Term | 5.25% | 4.33% | 107.551
|
| 2022 | Term | 4.75% | 4.93% | 98.164
|
| 2028 | Term | 5% | 5.22% | 97.260
|
| 2038 | Term | 5.25% | 5.45% | 97.042
|
| 2045 | Term | 5.25% | 5.50% | 96.047
|
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