By Sheri Kasprzak
New York, June 9 - The Tarrant County Cultural Education Facilities Finance Corp. of Texas priced Wednesday $345.775 million in series 2010 hospital revenue bonds, said a pricing sheet. The bonds (A1/A/AA-) were sold for Scott & White Health Care.
J.P. Morgan Securities Inc. was the senior manager with Goldman, Sachs & Co. as the co-manager.
The bonds are due 2011 to 2025 with term bonds due 2030, 2033, 2035, 2040 and 2045. The serial bonds have coupons from 1.5% to 5.25%. The 2030 bonds have a 5% coupon and priced at 97.514, and the 2033 bonds have a 5% coupon and priced at 95.634. The 2035 bonds have a 5.625% coupon and priced at 102.912. The 2040 bonds have a 5.25% coupon and priced at 96.049. The 2045 bonds have a split coupon. One of the 2045 bonds has a 5.5% coupon and priced at 97.712. The other has a 6% coupon and priced at 104.63.
Proceeds will be used to pay costs associated with constructing, acquiring and equipping Scott & White facilities, including an acute-care hospital in College Station, Texas, a children's hospital in Temple, Texas, and a hospital in Round Rock, Texas, as well as refund existing debt.
| Issuer: | Tarrant County Cultural Education Facilities Finance Corp./Scott & White Health Care
|
| Issue: | Series 2010 hospital revenue bonds
|
| Amount: | $345.775 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Goldman, Sachs & Co.
|
| Pricing date: | June 9
|
| Settlement date: | June 24
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 1.5% | 100
|
| 2012 | Serial | 3% | 102.508
|
| 2013 | Serial | 4% | 105.246
|
| 2014 | Serial | 4% | 105.219
|
| 2014 | Serial | 5% | 109.116
|
| 2015 | Serial | 5% | 109.260
|
| 2016 | Serial | 5% | 108.450
|
| 2017 | Serial | 5% | 107.504
|
| 2018 | Serial | 4% | 99.789
|
| 2018 | Serial | 5% | 106.670
|
| 2019 | Serial | 5% | 105.782
|
| 2020 | Serial | 4.25% | 98.698
|
| 2020 | Serial | 5% | 104.777
|
| 2021 | Serial | 5% | 103.699
|
| 2021 | Serial | 5.25% | 105.713
|
| 2022 | Serial | 4.5% | 98.706
|
| 2022 | Serial | 5.25% | 104.884
|
| 2023 | Serial | 5% | 101.826
|
| 2023 | Serial | 5.25% | 103.817
|
| 2024 | Serial | 5% | 100.785
|
| 2024 | Serial | 5.25% | 102.764
|
| 2025 | Serial | 4.75% | 97.464
|
| 2025 | Serial | 5.25% | 102.043
|
| 2030 | Term | 5% | 97.514
|
| 2033 | Term | 5% | 95.634
|
| 2035 | Term | 5.625% | 102.912
|
| 2040 | Term | 5.25% | 96.049
|
| 2045 | Term | 5.5% | 97.712
|
| 2045 | Term | 6% | 104.630
|
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