Published on 3/16/2012 in the Prospect News Municipals Daily.
New Issue: Louisville/Jefferson County Metro Government sells $271.26 million Catholic Health bonds
By Sheri Kasprzak
New York, March 16 - The Louisville/Jefferson County Metropolitan Government priced $271.26 million of series 2012A revenue bonds for the Catholic Health Initiatives of Kentucky, said a pricing sheet.
The bonds (Aa2/AA/AA) were sold through Morgan Stanley & Co. LLC. The co-managers were J.P. Morgan Securities LLC and Edward D. Jones & Co. LP.
The bonds are due 2013 to 2031 with a term bond due in 2035. The serial coupons range from 3% to 5%. The 2035 bonds have a split maturity with a 4.25% coupon priced at 98.526 and a 5% coupon priced at 107.151.
Proceeds will be used to advance refund existing Catholic Health bonds.
| Issuer: | Louisville/Jefferson County Metropolitan Government/Catholic Health Initiatives
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $271.26 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), J.P. Morgan Securities LLC and Edward D. Jones & Co. LP (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | March 15
|
| Settlement date: | April 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.28 million | 2013 | Serial | 3% | 104.116
|
| $2.36 million | 2014 | Serial | 4% | 108.666
|
| $2.45 million | 2015 | Serial | 4% | 110.327
|
| $2.55 million | 2016 | Serial | 4% | 112.35
|
| $5,875,000 | 2017 | Serial | 5% | 118.55
|
| $7.66 million | 2018 | Serial | 5% | 118.811
|
| $8,055,000 | 2019 | Serial | 5% | 118.927
|
| $4,365,000 | 2020 | Serial | 3.5% | 106.773
|
| $4,065,000 | 2020 | Serial | 5% | 118.321
|
| $8,835,000 | 2021 | Serial | 5% | 117.571
|
| $9,285,000 | 2022 | Serial | 5% | 116.062
|
| $9.76 million | 2023 | Serial | 5% | 114.471
|
| $10.26 million | 2024 | Serial | 5% | 113.639
|
| $10.79 million | 2025 | Serial | 5% | 112.905
|
| $740,000 | 2026 | Serial | 4% | 101.921
|
| $13.89 million | 2026 | Serial | 5% | 112.177
|
| $15,375,000 | 2027 | Serial | 5% | 111.455
|
| $16,165,000 | 2028 | Serial | 5% | 110.828
|
| $16,985,000 | 2029 | Serial | 5% | 110.204
|
| $17.86 million | 2030 | Serial | 5% | 109.674
|
| $5 million | 2031 | Serial | 4% | 98.389
|
| $13.75 million | 2031 | Serial | 5% | 109.146
|
| $7 million | 2035 | Term | 4.25% | 98.526
|
| $75,905,000 | 2035 | Term | 5% | 107.151
|
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