New Issue: Washington Health Care sells $123.51 million revenue bonds with 3.38%-5.92% yields for Highline

By Sheri Kasprzak

New York, Aug. 5 - The Washington Health Care Facilities Authority priced $123.51 million in series 2008 FHA-insured mortgage revenue bonds, according to an official statement. The bonds were sold for Highline Medical Center.

The bonds (/AA/) were sold on a negotiated basis with Banc of America Securities LLC and Piper Jaffray as the senior managers.

The bonds are due from 2011 to 2015 with term bonds due 2018, 2023, 2028 and 2036. The coupons on the serials range from 4% to 5.25% with yields from 3.38% to 4.34%. The 2018 bonds have a 5.25% coupon to yield 4.9%, the 2023 bonds have a 5.25% coupon to yield 5.44% and the 2028 bonds have a 6.25% coupon to yield 5.75%. The 2036 bonds have a 6.25% coupon to yield 5.92%.

Proceeds from the sale will be used for refunding existing debt, construction costs and a deposit to a debt service reserve fund.

Issuer:	Washington Health Care Facilities Authority/Highline Medical Center
Issue:	Series 2008 FHA-insured mortgage revenue bonds
Amount:	$123.51 million
Type:	Negotiated
Underwriters:	Banc of America Securities LLC and Piper Jaffray (lead)
Rating:	Standard & Poor's: AA
Pricing date:	July 31
Settlement date:	Aug. 27
Maturity	Type	Coupon	Yield
2011	Serial	4%	3.38%
2011	Serial	4%	3.38%
2012	Serial	4%	3.72%
2012	Serial	4%	3.72%
2013	Serial	5.25%	3.96%
2013	Serial	5.25%	3.96%
2014	Serial	5.25%	4.19%
2014	Serial	5.25%	4.19%
2015	Serial	5.25%	4.34%
2015	Serial	5.25%	4.34%
2018	Term	5.25%	4.90%
2023	Term	5.25%	5.44%
2028	Term	6.25%	5.75%
2036	Term	6.25%	5.92%

© 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.