By Cristal Cody
Springdale, Ark., July 15 - Laguna Honda Hospital priced $118.13 million general obligation refunding bonds through the City and County of San Francisco on Tuesday with a 4.783% true interest cost, a source told Prospect News.
The series 2008R3 bonds (Aa3/AA/AA-) priced with 4.6% to 5% coupons to yield 4.28% to 4.8%.
The bonds have serial maturities from 2022 through 2030.
Lehman Brothers was the winning bidder in the competitive sale.
Proceeds will be used to refund the hospital's outstanding series 2005B, 2005C and 2005D variable-rate general obligation bonds.
| Issuer: | Laguna Honda Hospital/City and County of San Francisco
|
| Issue: | Series 2008R3 general obligation refunding bonds
|
| Amount: | $118.13 million
|
| Type: | Competitive
|
| True interest cost: | 4.783%
|
| Coupons: | 4.6%-5%
|
| Yields: | 4.28%-4.8%
|
| Maturities: | 2022-2030
|
| Underwriter: | Lehman Brothers
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Fitch: AA-
|
| Pricing date: | July 15
|
| Settlement date: | July 30
|
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