By Sheri Kasprzak
New York, Dec. 2 - The Kentucky Economic Development Authority priced $140 million of series 2011 hospital revenue bonds on behalf of the Baptist Health Care System Obligated Group, according to a pricing sheet.
The bonds (A1/AA-) were sold through Goldman, Sachs & Co. The co-managers were BB&T Capital Markets LLC, J.J.B. Hilliard, W.L. Lyons LLC and J.P. Morgan Securities LLC.
The bonds are due on Aug. 15, 2042 and Aug. 15, 2046. The 2042 bonds have 5% coupon priced at 97.241, and the 2046 bonds have a 5.25% coupon priced at 97.194.
Proceeds will be used to reimburse the obligated group for costs associated with the construction, equipment and expansion of a medical building extension to the existing Central Baptist Hospital in Lexington, Ky.; the construction, acquisition and expansion of new fixtures, equipment, computer software and hardware and other improvements at the Western Baptist Hospital in Paducah, Ky.; and the acquisition, construction and expansion of new fixtures, equipment, computer software and hardware and other improvements at Baptist Hospital East in St. Matthews, Ky.
| Issuer: | Kentucky Economic Development Authority/Baptist Health Care System Obligated Group
|
| Issue: | Series 2011 hospital revenue bonds
|
| Amount: | $140 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead); BB&T Capital Markets LLC; J.J.B. Hilliard, W.L. Lyons LLC; and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody's: A1
|
| Fitch: AA-
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $63.06 million | Aug. 15, 2042 | Term | 5% | 97.241
|
| $76.94 million | Aug. 15, 2046 | Term | 5.25% | 97.194
|
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