Published on 4/12/2012 in the Prospect News Municipals Daily.
New Issue: South Dakota Health brings $71.21 million of Avera Health revenue bonds
By Sheri Kasprzak
New York, April 12 - The South Dakota Health and Educational Facilities Authority sold $71,205,000 of series 2012A revenue bonds for Avera Health, according to a pricing sheet.
The bonds (A1/A+/) were sold through senior managers Dougherty & Co. LLC and Bank of America Merrill Lynch.
The bonds are due 2013 to 2027 with a term bond due in 2042. The serial coupons range from 3% to 5%. The 2042 bonds have a 5% coupon priced at 102.958.
Proceeds will be used to refund the authority's series 2002, 2008A and 2008C revenue bonds issued for Avera.
| Issuer: | South Dakota Health and Educational Facilities Authority/Avera Health
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $71,205,000
|
| Type: | Negotiated
|
| Underwriters: | Dougherty & Co. LLC and Bank of America Merrill Lynch
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | April 4
|
| Settlement date: | May 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,485,000 | 2013 | Serial | 3% | 102.631
|
| $1,775,000 | 2014 | Serial | 3% | 103.837
|
| $1.83 million | 2015 | Serial | 3% | 104.462
|
| $1,885,000 | 2016 | Serial | 3% | 104.385
|
| $1.94 million | 2017 | Serial | 4% | 108.998
|
| $2,015,000 | 2018 | Serial | 4% | 108.818
|
| $2,095,000 | 2019 | Serial | 4% | 108.077
|
| $2.18 million | 2020 | Serial | 4% | 107.192
|
| $2.27 million | 2021 | Serial | 5% | 114.027
|
| $2.38 million | 2022 | Serial | 5% | 112.338
|
| $2.5 million | 2023 | Serial | 5% | 111.008
|
| $2,625,000 | 2024 | Serial | 5% | 109.86
|
| $2,755,000 | 2025 | Serial | 5% | 108.725
|
| $2,895,000 | 2026 | Serial | 5% | 108.244
|
| $3.04 million | 2027 | Serial | 5% | 107.526
|
| $37,535,000 | 2042 | Term | 5% | 102.958
|
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