By Sheri Kasprzak
New York, Sept. 16 - The Kalamazoo Hospital Finance Authority of Michigan sold $114.26 million in series 2010 revenue refunding bonds on Thursday for the Bronson Methodist Hospital, according to a pricing sheet. The authority had planned to sell $124.455 million.
The bonds (A2) were sold through Ziegler Capital Markets Group.
The bonds are due 2020, 2025, 2030 and 2036. Coupons range from 4.25% to 6%.
Proceeds will be used to refund the authority's outstanding series 1998 revenue refunding and improvement bonds and its series 2009 revenue refunding bonds, as well as to reconstruct, remodel and equip hospital facilities and terminate all or a portion of interest-rate hedge agreements related to the series 2006 and 2009A bonds.
| Issuer: | Kalamazoo Hospital Finance Authority/Bronson Methodist Hospital
|
| Issue: | Series 2010 revenue refunding bonds
|
| Amount: | $114.26 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Markets Group
|
| Rating: | Moody's: A2
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 28
|
|
|
| Maturity | Type | Coupon | Price
|
| 2020 | Term | 5% | 107.922
|
| 2025 | Term | 4.25% | 95.783
|
| 2030 | Term | 4.75% | 97.501
|
| 2030 | Term | 5% | 99.375
|
| 2030 | Term | 6% | NRO
|
| 2036 | Term | 5% | 97.179
|
| 2036 | Term | 5.5% | 104.214
|
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