By Sheri Kasprzak
New York, May 14 - The Hospital Authority of Clackamas County in Oregon priced $117.125 million in series 2009A revenue bonds Thursday, said a sellside source connected to the deal. The bonds were sold for the Legacy Health System.
The bonds (A2/A+/) were sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are Merrill Lynch & Co. Inc. and J.P. Morgan Securities Inc.
The bonds are due 2010 to 2024 with term bonds due 2029 and 2035. The coupons on the serials range from 3% to 5.5% and the yields on the serials range from 2.23% to 5.3%. The 2029 bonds have a 5.5% coupon to yield 5.55% and the 2039 bonds have a 5.5% coupon to yield 5.75%.
Proceeds will be used to make loans to Legacy Health System.
The Legacy Health System is based in Portland, Ore.
| Issuer: | Hospital Authority of Clackamas County/Legacy Health System
|
| Issue: | Series 2009A revenue bonds
|
| Amount: | $117.125 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead); Merrill Lynch & Co. Inc. and J.P. Morgan Securities Inc. (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Pricing date: | May 14
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 2.23%
|
| 2011 | Serial | 3% | 2.73%
|
| 2012 | Serial | 3% | 3.13%
|
| 2013 | Serial | 3.5% | 3.36%
|
| 2014 | Serial | 4% | 3.73%
|
| 2015 | Serial | 4% | 4.00%
|
| 2016 | Serial | 4% | 4.19%
|
| 2017 | Serial | 4.25% | 4.39%
|
| 2018 | Serial | 4.5% | 4.59%
|
| 2019 | Serial | 5% | 4.79%
|
| 2020 | Serial | 5% | 5.00%
|
| 2021 | Serial | 5% | 5.06%
|
| 2022 | Serial | 5% | 5.14%
|
| 2023 | Serial | 5.125% | 5.24%
|
| 2024 | Serial | 5.25% | 5.30%
|
| 2029 | Term | 5.5% | 5.55%
|
| 2035 | Term | 5.5% | 5.75%
|
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