By Sheri Kasprzak
New York, July 25 - The LaGrange-Troup County Hospital Authority in Georgia priced $46.59 million in series 2008A revenue anticipation certificates, according to an official statement released Friday. The authority had planned to sell $50 million of the certificates.
The certificates (A1/A+/) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the senior manager.
The certificates are due 2010 to 2013 with term certificates due 2018 and 2038. The serials have coupons from 4% to 5% with yields from 3% to 4.02%.
The 2018 certificates priced at 102.193 to yield 4.72%, and the 2038 certificates priced at 96.444% to yield 5.75%. The exact coupons of the term certificates could not be determined Friday.
Proceeds will be used to finance and refinance the cost of constructing health facilities and renovating existing facilities.
| Issuer: | LaGrange-Troup County Hospital Authority
|
| Issue: | Series 2008A revenue anticipation certificates
|
| Amount: | $46.59 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities Inc. (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | July 22
|
| Settlement date: | July 31
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2010 | Serial | 4% | 3.00% | 101.847
|
| 2011 | Serial | 5% | 3.50% | 104.121
|
| 2012 | Serial | 5% | 3.78% | 104.399
|
| 2013 | Serial | 5% | 4.02% | 104.329
|
| 2018 | Term | 4.72% | 102.193
|
| 2038 | Term | 5.75% | 96.444
|
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