Published on 7/28/2011 in the Prospect News Municipals Daily.
New Issue: Central Bradford Progress, Pa., sells $102.37 million of bonds for Guthrie Health
By Sheri Kasprzak
New York, July 28 - The Central Bradford Progress Authority of Pennsylvania sold $102.37 million of series 2011 revenue bonds for the Guthrie Health System, according to a pricing sheet.
The bonds (AA-/A+) were sold through RBC Capital Markets LLC.
The bonds are due 2012 to 2024 with term bonds due in 2026, 2031 and 2041. The serial coupons range from 3% to 5.25%. The 2026 bonds have a 5% coupon priced at 101.387. The 2031 bonds have a split maturity with a 5% coupon priced at 98.739 and a 5.5% coupon priced at 103.957. The 2041 bonds have a 5.375% coupon priced at 99.178.
Proceeds will be used to finance, refinance and reimburse the costs of constructing, acquiring, equipping and furnishing clinical, inpatient, outpatient, diagnostic, treatment and ancillary facilities operated by Guthrie Health, as well as to refund the health system's series 2002A bonds.
| Issuer: | Central Bradford Progress Authority/Guthrie Health System
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $102.37 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: A+
|
| Pricing date: | July 28
|
| Settlement date: | Sept. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $230,000 | 2012 | Serial | 3% | 102.501
|
| $240,000 | 2013 | Serial | 3% | 103.769
|
| $245,000 | 2014 | Serial | 3% | 103.971
|
| $255,000 | 2015 | Serial | 3% | 103.54
|
| $430,000 | 2016 | Serial | 3% | 102.385
|
| $455,000 | 2017 | Serial | 4% | 106.401
|
| $1.12 million | 2018 | Serial | 5.25% | 112.379
|
| $1.195 million | 2019 | Serial | 5.25% | 111.356
|
| $1.145 million | 2020 | Serial | 5.25% | 110.13
|
| $380,000 | 2021 | Serial | 4% | 99.331
|
| $920,000 | 2022 | Serial | 4% | 98.043
|
| $1.04 million | 2023 | Serial | 4.25% | 98.587
|
| $1.175 million | 2024 | Serial | 4.375% | 98.268
|
| $14.98 million | 2026 | Term | 5% | 101.837
|
| $11.79 million | 2031 | Term | 5% | 98.739
|
| $28.6 million | 2031 | Term | 5.5% | 103.957
|
| $38.17 million | 2041 | Term | 5.375% | 99.178
|
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