Published on 4/8/2015 in the Prospect News Municipals Daily.
New Issue: Glynn-Brunswick Memorial, Ga., prices $83.94 million of certificates
By Sheri Kasprzak
New York, April 8 – The Glynn-Brunswick Memorial Hospital Authority sold $83,935,000 of series 2015 revenue anticipation certificates for the Southeast Georgia Health System, according to a pricing sheet.
The bonds (A2/A-/) were sold through Raymond James/Morgan Keegan.
The bonds are due 2019 to 2030 with a term bond due in 2034. The serial coupons range from 3.5% to 5% with 1.6% to 3.66% yields. The 2034 bonds have a 5% coupon priced at 111.927 to yield 3.6%.
Proceeds will be used to refund a portion of the system’s series 2008A revenue anticipation certificates.
| Issuer: | Glynn-Brunswick Memorial Hospital Authority/Southeast Georgia Health System
|
| Issue: | Series 2015 revenue anticipation certificates
|
| Amount: | $83,935,000
|
| Type: | Negotiated
|
| Underwriter: | Raymond James/Morgan Keegan
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A-
|
| Pricing date: | April 8
|
| Settlement date: | April 23
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,625,000 | 2019 | Serial | 4% | 109.87 | 1.60%
|
| $3,765,000 | 2020 | Serial | 4% | 110.803 | 1.84%
|
| $3,925,000 | 2021 | Serial | 5% | 117.276 | 2.05%
|
| $4.12 million | 2022 | Serial | 5% | 118.055 | 2.29%
|
| $4,325,000 | 2023 | Serial | 5% | 118.656 | 2.49%
|
| $4,535,000 | 2024 | Serial | 5% | 119.021 | 2.67%
|
| $4.76 million | 2025 | Serial | 5% | 118.829 | 2.87%
|
| $5 million | 2026 | Serial | 5% | 117.177 | 3.04%
|
| $5,245,000 | 2027 | Serial | 5% | 116.123 | 3.15%
|
| $5.51 million | 2028 | Serial | 5% | 114.986 | 3.27%
|
| $5,775,000 | 2029 | Serial | 5% | 114.329 | 3.34%
|
| $1,585,000 | 2030 | Serial | 3.5% | 98.136 | 3.66%
|
| $4,465,000 | 2030 | Serial | 5% | 113.676 | 3.41%
|
| $27.3 million | 2034 | Term | 5% | 111.927 | 3.60%
|
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