By Sheri Kasprzak
New York, Oct. 20 - The Jefferson Parish Hospital Service District No. 2 of Louisiana priced $170 million of series 2011 hospital revenue and refunding bonds for the East Jefferson General Hospital, according to a pricing sheet.
The bonds (Baa2/BBB-/) were sold through J.P. Morgan Securities LLC and Sisung Securities Corp.
The bonds are due 2012 to 2021 with term bonds due in 2026, 2031 and 2041. The serial coupons range from 2% to 4.4%. The 2026 bonds have a split maturity with a 5.625% coupon priced at 98.762 and a 6.25% coupon priced at 102.016. The 2031 bonds have a 6.25% coupon priced at 99.206, and the 2041 bonds have a 6.375% coupon priced at 98.353.
Proceeds will be used to construct, equip and acquire a new four-story wing of the hospital to house an emergency room, cardiology center, physician offices and a parking garage.
| Issuer: | Jefferson Parish Hospital Service District No. 2/East Jefferson General Hospital
|
| Issue: | Series 2011 hospital revenue and refunding bonds
|
| Amount: | $170 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Sisung Securities Corp. (lead)
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's BBB-
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.675 million | 2012 | Serial | 2% | 99.897
|
| $2.705 million | 2013 | Serial | 3% | 100.98
|
| $2.785 million | 2014 | Serial | 2.5% | 100
|
| $2.855 million | 2015 | Serial | 2.7% | 100
|
| $2.935 million | 2016 | Serial | 3.05% | 100
|
| $3.025 million | 2017 | Serial | 3.35% | 100
|
| $3.125 million | 2018 | Serial | 3.65% | 100
|
| $3.24 million | 2019 | Serial | 3.95% | 100
|
| $3.365 million | 2020 | Serial | 4.2% | 100
|
| $3.51 million | 2021 | Serial | 4.4% | 100
|
| $11.86 million | 2026 | Term | 5.625% | 98.762
|
| $8.74 million | 2026 | Term | 6.25% | 102.016
|
| $27.625 million | 2031 | Term | 6.25% | 99.206
|
| $88.555 million | 2041 | Term | 6.375% | 98.353
|
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