By Cristal Cody
Springdale, Ark., July 17 - Integris Health in Oklahoma priced $231.67 million health system revenue and refunding bonds with a 5.29% true interest cost on Thursday, a sellside source told Prospect News.
The $114.67 million series 2008B bonds priced with 5% to 5.25% coupons to yield 2.24% to 5.489%. The bonds have serial maturities from 2009 through 2014 and a term due 2038.
The $117 million series 2008C bonds priced with 4.5% to 5.25% coupons to yield 4.04% to 5.38%. The bonds have serial maturities from 2014 through 2022 and terms due 2024 and 2029.
The bonds (Aa3/AA-/) were sold through the Oklahoma Development Finance Authority for Integris Baptist Medical Center, Integris South Oklahoma City Hospital and Integris Rural Health.
Goldman, Sachs & Co. was the senior manager of the negotiated sale and JPMorgan was the co-manager.
Proceeds will be used to finance or refinance acquisitions and capital improvements and refund $32.7 million of the $37.165 million outstanding from the series 1995D revenue refunding bonds and $117.3 million of the $118 million outstanding from the series 1999B variable-rate revenue refunding bonds.
Issuer: | Integris Health/Oklahoma Development Finance Authority
|
Issue: | Health system revenue and refunding bonds
|
Total amount: | $231.67 million
|
Type: | Negotiated
|
True interest cost: | 5.29%
|
Underwriter: | Goldman, Sachs & Co. (lead)
|
Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
Pricing date: | July 17
|
Settlement date: | July 30
|
|
Series 2008B
|
Issue: | Series 2008B bonds
|
Amount: | $114.67 million
|
Coupons: | 5%-5.25%
|
Yields: | 2.24%-5.489%
|
Maturities: | 2009-2014 serials; 2038 term
|
|
Series 2008C
|
Issue: | Series 2008C bonds
|
Amount: | $117 million
|
Coupons: | 4.5%-5.25%
|
Yields: | 4.04%-5.38%
|
Maturities: | 2014-2022 serials; 2024 and 2029 terms
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.