Published on 10/22/2015 in the Prospect News Municipals Daily.
New Issue: California Statewide Communities brings $173.73 million of Enloe bonds
By Sheri Kasprzak
New York, Oct. 22 – The California Statewide Communities Development Authority sold $173.73 million of series 2015 refunding revenue bonds for Enloe Medical Center, according to a pricing sheet.
The bonds (/AA-/) were sold through BofA Merrill Lynch.
The bonds are due 2019 to 2035 with a term bond due in 2038. The serial coupons range from 3% to 5% with yields from 1.12% to 3.36%. The 2038 bonds have a 4% coupon priced at 100.412 to yield 3.95% and a 5% coupon priced at 112.993 to yield 3.48%.
Proceeds will be used to finance improvements to health system facilities, as well as to refund the authority’s series 2008B revenue bonds.
Issuer: | California Statewide Communities Development Authority/Enloe Medical Center
|
Issue: | Series 2015 refunding revenue bonds
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Amount: | $173.73 million
|
Type: | Negotiated
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Underwriter: | BofA Merrill Lynch (lead)
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Rating: | Standard & Poor’s: AA-
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Pricing date: | Oct. 22
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Settlement date: | Nov. 19
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$955,000 | 2019 | Serial | 3% | 106.864 | 1.12%
|
$990,000 | 2020 | Serial | 5% | 116.398 | 1.41%
|
$1,045,000 | 2021 | Serial | 5% | 118.208 | 1.66%
|
$1.1 million | 2022 | Serial | 5% | 119.379 | 1.92%
|
$1.16 million | 2023 | Serial | 5% | 120.057 | 2.17%
|
$7,985,000 | 2024 | Serial | 5% | 120.821 | 2.35%
|
$8,385,000 | 2025 | Serial | 5% | 121.391 | 2.51%
|
$8,805,000 | 2026 | Serial | 5% | 121.148 | 2.63%
|
$9.24 million | 2027 | Serial | 5% | 119.56 | 2.79%
|
$9,705,000 | 2028 | Serial | 5% | 118.386 | 2.91%
|
$10.19 million | 2029 | Serial | 3% | 97.787 | 3.20%
|
$10,495,000 | 2030 | Serial | 5% | 116.65 | 3.09%
|
$11.02 million | 2031 | Serial | 5% | 115.983 | 3.16%
|
$11,575,000 | 2032 | Serial | 3.25% | 97.469 | 3.45%
|
$11.95 million | 2033 | Serial | 5% | 114.945 | 3.27%
|
$12,545,000 | 2034 | Serial | 5% | 114.476 | 3.32%
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$13,175,000 | 2035 | Serial | 5% | 114.103 | 3.36%
|
$20 million | 2038 | Term | 4% | 100.412 | 3.95%
|
$23.41 million | 2038 | Term | 5% | 112.993 | 3.48%
|
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