By Sheri Kasprzak
New York, Feb. 2 - The North Carolina Medical Care Commission priced $169.75 million in series 2009A health care facilities revenue bonds for WakeMed Health Systems, said Heather Monackey, spokeswoman for WakeMed.
The bonds (Aa2//AA-) were sold on Wednesday through lead manager Citigroup Global Markets Inc. The co-managers were BB&T Capital Markets Inc., Edward Jones & Co., Merrill Lynch & Co. and Wachovia Bank.
The bonds are due 2010 to 2019 with term bonds due 2029, 2038 and 2038. The serials have coupons from 3% to 4.25% and yields from 2.4% to 4.37%.
The 2029 bonds have a 5.625% coupon, priced at par and the 2038 bonds have a 5.875% coupon, also priced at par. The second 2038 maturity has a 5.625% coupon to yield 5.875%.
Proceeds will be used to construct hospital buildings and a parking garage, as well as to make a deposit to a debt service reserve fund.
| Issuer: | North Carolina Medical Care Commission/WakeMed Health Systems
|
| Issue: | Series 2009A health care facilities revenue bonds
|
| Amount: | $169.75 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), BB&T Capital Markets Inc., Edward Jones & Co., Merrill Lynch & Co. and Wachovia Bank (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA-
|
| Pricing date: | Jan. 28
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 2.40%
|
| 2011 | Serial | 3.5% | 2.66%
|
| 2012 | Serial | 4% | 2.76%
|
| 2013 | Serial | 3% | 3.00%
|
| 2014 | Serial | 3% | 3.24%
|
| 2015 | Serial | 4% | 3.47%
|
| 2016 | Serial | 4% | 3.65%
|
| 2017 | Serial | 4% | 3.91%
|
| 2018 | Serial | 4% | 4.13%
|
| 2019 | Serial | 4.25% | 4.37%
|
| 2029 | Term | 5.625% | 5.625%
|
| 2038 | Term | 5.875% | 5.875%
|
| 2038 | Term | 5.625% | 5.875%
|
© 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.
