Published on 8/11/2014 in the Prospect News Municipals Daily.
New Issue: Ashland, Ky., brings to market $125.09 million of King’s Daughters debt
By Sheri Kasprzak
New York, Aug. 11 – The City of Ashland, Ky., sold $125,085,000 of series 2014 medical center revenue bonds for the King’s Daughters Medical Center, according to an official statement.
The bonds (A3/BBB/A-) were sold through RBC Capital Markets LLC.
The bonds are due Feb. 1, 2040 and bear interest at the Sifma index rate plus 175 basis points.
Proceeds will be used to refund the city’s series 2008A-C and series 2010A-B revenue bonds.
| Issuer: | Ashland, Ky./King’s Daughters Medical Center
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| Issue: | Series 2014 medical center revenue bonds
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| Amount: | $125,089,000
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| Maturity: | Feb. 1, 2040
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| Coupon: | Sifma index rate plus 175 bps
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| Price: | 100
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| Type: | Negotiated
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| Underwriter: | RBC Capital Markets LLC
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| Ratings: | Moody’s: A3
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| Standard & Poor’s: BBB
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| Fitch: A-
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| Pricing date: | Aug. 1
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| Settlement date: | Aug. 14
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