By Sheri Kasprzak
New York, July 25 - Lexington County Health Services District Inc. of South Carolina sold $62.705 million of series 2011 hospital revenue refunding bonds for the Lexington Medical Center, said an official statement.
The bonds (A1/AA-/AA-) were sold through senior manager Morgan Stanley & Co. Inc.
The bonds are due 2011 to 2023 with a term bond due in 2026. The serial coupons range from 2% to 5% with yields from 0.8% to 4.36%. The 2026 bonds have a 5% coupon to yield 4.75%.
Proceeds will be used to refund the medical center's 1997 revenue bonds.
| Issuer: | Lexington County Health Services District Inc./Lexington Medical Center
|
| Issue: | Series 2011 hospital revenue refunding bonds
|
| Amount: | $62.705 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | July 21
|
| Settlement date: | July 28
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $750,000 | 2011 | Serial | 2% | 0.80%
|
| $2.99 million | 2012 | Serial | 3% | 0.90%
|
| $3.075 million | 2013 | Serial | 3% | 1.20%
|
| $3.185 million | 2014 | Serial | 4% | 1.60%
|
| $3.325 million | 2015 | Serial | 5% | 2.00%
|
| $3.485 million | 2016 | Serial | 5% | 2.49%
|
| $3.66 million | 2017 | Serial | 5% | 2.88%
|
| $3.845 million | 2018 | Serial | 5% | 3.27%
|
| $4.04 million | 2019 | Serial | 5% | 3.60%
|
| $4.24 million | 2020 | Serial | 5% | 3.84%
|
| $4.455 million | 2021 | Serial | 5% | 4.01%
|
| $4.67 million | 2022 | Serial | 5% | 4.20%
|
| $4.885 million | 2023 | Serial | 4.125% | 4.36%
|
| $16.1 million | 2026 | Term | 5% | 4.75%
|
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