By Sheri Kasprzak
New York, June 24 - The Washington Health Care Facilities Authority sold $174.24 million in series 2010A revenue bonds on Thursday for Providence Health & Services, according to a pricing sheet.
The bonds (Aa2/AA/AA) were sold on a negotiated basis with Bank of America Merrill Lynch as the lead manager. The co-managers were Goldman, Sachs & Co. and Morgan Stanley & Co. Inc.
The bonds are due 2030, 2032 and 2039. The 2032 and 2039 bonds have split maturities. The 2030 bonds have a 4.875% coupon priced at 98.788. The 2032 bonds have a 5% coupon priced at 99.064 and a 5.25% coupon priced at 101.902. The 2039 bonds have a 5% coupon priced at 98.033 and a 5.25% coupon priced at 101.132.
Proceeds will be used to finance the construction of a 12-story health care facility to expand the health care system's Everett, Wash., site.
| Issuer: | Washington Health Care Facilities Authority/Providence Health & Services
|
| Issue: | Series 2010A revenue bonds
|
| Amount: | $174.24 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Goldman, Sachs & Co., Morgan Stanley & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | June 24
|
| Settlement date: | July 1
|
|
|
| Maturity | Type | Coupon | Price
|
| 2030 | Term | 4.875% | 98.788
|
| 2032 | Term | 5% | 99.064
|
| 2032 | Term | 5.25% | 101.902
|
| 2039 | Term | 5% | 98.033
|
| 2039 | Term | 5.25% | 101.132
|
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