By Sheri Kasprzak
New York, July 31 - The Kansas Development Finance Authority priced $311 million of series 2012 hospital revenue bonds for Adventist Health System, according to a pricing sheet.
The bonds (//AA) were sold through Ziegler Capital Inc.
The bonds are due 2027 to 2029 with term bonds due in 2032, 2034 and 2037. The serial bonds have 5% coupons. The 2032 bonds have a 5% coupon priced at 113.488, and the 2034 bonds have a 5% coupon priced at 112.781. The 2037 bonds have a 4% coupon priced at par.
Proceeds will be used to refund 12 series of outstanding bonds and to terminate swap agreements connected to the bonds.
| Issuer: | Kansas Development Finance Authority/Adventist Health System
|
| Issue: | Series 2012 hospital revenue bonds
|
| Amount: | $311 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Inc.
|
| Rating: | Fitch: AA
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 29
|
|
|
| Maturity | Type | Coupon | Price
|
| 2027 | Serial | 5% | 116.736
|
| 2028 | Serial | 5% | 115.732
|
| 2029 | Serial | 5% | 115.098
|
| 2032 | Term | 5% | 113.488
|
| 2034 | Term | 5% | 112.781
|
| 2037 | Term | 4% | 100
|
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