By Sheri Kasprzak
New York, June 30 - Butler County of Ohio sold $155.635 million of series 2011 hospital facilities revenue bonds on Wednesday for the Kettering Health Network Obligated Group, according to a pricing sheet.
The bonds (A2/A/) were sold through Bank of America Merrill Lynch.
The bonds are due 2023 to 2026 with term bonds due in 2031, 2036 and 2041. The serial coupons range from 4.5% to 5%. The 2031 bonds have a 5.25% coupon priced at 95.614, and the 2036 bonds have a 6.375% coupon priced at 104.214. The 2041 bonds have a 5.625% coupon priced at 95.484.
Proceeds will be used to construct, equip and furnish an acute care hospital in Beavercreek, Ohio, as well as construct and improve facilities in Kettering, Grandview, Fort Hamilton and Soin.
Issuer: | Butler County, Ohio/Kettering Health Network Obligated Group
|
Issue: | Series 2011 hospital facilities revenue bonds
|
Amount: | $155.635 million
|
Type: | Negotiated
|
Underwriter: | Bank of America Merrill Lynch
|
Ratings: | Moody's: A2
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| Standard & Poor's: A
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Pricing date: | June 29
|
Settlement date: | July 13
|
|
Maturity | Type | Coupon | Price
|
2023 | Serial | 4.5% | 97.591
|
2024 | Serial | 4.75% | 97.937
|
2025 | Serial | 5% | 98.529
|
2026 | Serial | 5% | 97.451
|
2031 | Term | 5.25% | 95.614
|
2036 | Term | 6.375% | 104.214
|
2041 | Term | 5.625% | 95.484
|
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