By Sheri Kasprzak
New York, July 29 - The California Municipal Finance Authority sold $109.815 million in series 2010A revenue bonds for Eisenhower Medical Center on Thursday, according to a term sheet.
The bonds (Baa1//A-) were sold through Bank of America Merrill Lynch. The co-manager was Morgan Stanley & Co. Inc.
The bonds are due 2013 to 2026 with term bonds due 2030 and 2040. The serial bonds have coupons from 3% to 5.25%. The 2030 bonds have a 5.5% coupon priced at 98.215. The 2040 bonds have a 5.75% coupon priced at 98.866.
Proceeds will be used to refinance a bank loan, to reimburse the medical center for prior capital expenditures and to fund future capital expenditures.
| Issuer: | California Municipal Finance Authority/Eisenhower Medical Center
|
| Issue: | Series 2010A revenue bonds
|
| Amount: | $109.815 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Morgan Stanley & Co. Inc. (co-manager)
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 11
|
| Ratings: | Moody's: Baa1
|
| Fitch: A-
|
|
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 3% | 101.271
|
| 2014 | Serial | 5% | 107.629
|
| 2015 | Serial | 4% | 102.316
|
| 2016 | Serial | 5% | 105.841
|
| 2017 | Serial | 4.125% | 99.729
|
| 2018 | Serial | 5% | 103.89
|
| 2019 | Serial | 4.5% | 99.272
|
| 2019 | Serial | 5% | 102.886
|
| 2020 | Serial | 5% | 101.633
|
| 2021 | Serial | 4.875% | 99.369
|
| 2021 | Serial | 5.25% | 102.496
|
| 2022 | Serial | 5% | 99.463
|
| 2023 | Serial | 5.125% | 99.574
|
| 2024 | Serial | 5.25% | 99.798
|
| 2025 | Serial | 5.25% | 99.483
|
| 2026 | Serial | 5.25% | 98.617
|
| 2030 | Term | 5.5% | 98.215
|
| 2040 | Term | 5.75% | 98.866
|
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