By Sheri Kasprzak
New York, Nov. 10 - The Lufkin Health Facilities Development Corp. priced $71.57 million in series 2009 revenue refunding and improvement bonds for Memorial Health System of East Texas, according to a pricing sheet.
The bonds (Baa2/BBB+/) were sold through Morgan Keegan & Co. Inc.
The bonds are due 2011 to 2019 with term bonds due 2024 and 2037.
The serials have coupons from 3.5% to 5.75% with yields ranging from 3.2% to 5.78%. The 2024 bonds have a 6% coupon to yield 6.15% and the 2037 bonds have a 6.25% coupon to yield 6.5%.
Proceeds will be used to reimburse or finance the construction, acquisition, improvement and rehabilitation of Memorial Health facilities and equipment.
| Issuer: | Lufkin Health Facilities Development Corp./Memorial Health System of East Texas
|
| Issue: | Series 2009 revenue refunding and improvement bonds
|
| Amount: | $71.57 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Keegan & Co. Inc.
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Pricing date: | Nov. 3
|
| Settlement date: | Nov. 19
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2011 | Serial | 3.5% | 3.20%
|
| 2012 | Serial | 3.6% | 3.60%
|
| 2013 | Serial | 4% | 4.04%
|
| 2013 | Serial | 5% | 4.04%
|
| 2014 | Serial | 4.5% | 4.50%
|
| 2014 | Serial | 5% | 4.50%
|
| 2015 | Serial | 5.5% | 4.93%
|
| 2016 | Serial | 5.125% | 5.23%
|
| 2016 | Serial | 5.5% | 5.23%
|
| 2017 | Serial | 5.5% | 5.44%
|
| 2018 | Serial | 5.5% | 5.63%
|
| 2019 | Serial | 5.5% | 5.78%
|
| 2019 | Serial | 5.75% | 5.78%
|
| 2024 | Term | 6% | 6.15%
|
| 2037 | Term | 6.25% | 6.50%
|
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