By Sheri Kasprzak
New York, Feb. 12 - The Kentucky Economic Development Finance Authority sold $216.03 million in series 2009A hospital revenue bonds for Baptist Healthcare System Obligated Group, according to an official statement.
The bonds (Aa3//AA-) were sold on Feb. 6 through senior manager Goldman, Sachs & Co. The co-managers were BB&T Capital Markets and J.P. Morgan Securities Inc.
The bonds are due 2010 to 2019 with term bonds due 2024 and 2027.
The serials have coupons from 3% to 5% and yields from 2.48% to 4.92%. The 2024 bonds have a 5.375% coupon to yield 5.55%. The 2027 bonds have coupons from 5.625% to yield 5.8%.
Proceeds will be used to reimburse Baptist Healthcare for the construction of a new patient and surgery tower at Baptist Hospital East in St. Matthews, Ky., as well as for the construction of other improvements.
| Issuer: | Kentucky Economic Development Finance Authority/Baptist Healthcare System Obligated Group
|
| Issue: | Series 2009A hospital revenue bonds
|
| Amount: | $216.03 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead); BB&T Capital Markets; and J.P. Morgan Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 19
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2010 | Serial | 3% | 2.48% | 100.755
|
| 2010 | Serial | 5% | 2.48% | 103.661
|
| 2011 | Serial | 4% | 3.13% | 102.067
|
| 2011 | Serial | 5% | 3.13% | 104.443
|
| 2012 | Serial | 5% | 3.32% | 105.491
|
| 2013 | Serial | 4% | 3.52% | 101.976
|
| 2013 | Serial | 5% | 3.52% | 106.095
|
| 2014 | Serial | 5% | 3.79% | 105.945
|
| 2015 | Serial | 5% | 3.98% | 105.782
|
| 2016 | Serial | 4% | 4.18% | 98.852
|
| 2016 | Serial | 5% | 4.18% | 105.225
|
| 2017 | Serial | 5% | 4.42% | 104.067
|
| 2018 | Serial | 5% | 4.66% | 102.582
|
| 2019 | Serial | 4.75% | 4.92% | 98.619
|
| 2024 | Term | 5.375% | 5.55% | 98.196
|
| 2027 | Term | 5.625% | 5.80% | 98.030
|
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