By Sheri Kasprzak
New York, March 24 - The Rhode Island Health and Educational Building Corp. priced $114.985 million in series 2009A hospital financing revenue bonds, according to an official statement. The bonds were sold for Lifespan Obligated Group.
The bonds (Aa2/AAA/) are due 2027, 2030, 2039 and 2039. The 2027 bonds have a 6.125% coupon to yield 6.25% and the 2030 bonds have a 6.25% coupon to yield 6.37%. The 2039 bonds have a 7% coupon to yield 6.5% and the other 2039 bonds have a 7% coupon to yield 7.245%.
Morgan Stanley & Co. was the lead manager. The co-managers were Goldman, Sachs & Co. and Oppenheimer & Co. Inc.
Proceeds will be used to construct, equip, acquire and renovate healthcare facilities operated by Lifespan.
| Issuer: | Rhode Island Health and Educational Building Corp./Lifespan Obligated Group
|
| Issue: | Series 2009A hospital financing revenue bonds
|
| Amount: | $114.985 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. (lead); Goldman, Sachs & Co. and Oppenheimer & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AAA
|
| Pricing date: | March 18
|
| Settlement date: | March 30
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2027 | Term | 6.125% | 6.25% | 98.646
|
| 2030 | Term | 6.25% | 6.37% | 98.607
|
| 2039 | Term | 7% | 6.50% | 103.656
|
| 2039 | Term | 7% | 7.245% | 97.000
|
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