By Sheri Kasprzak
New York, May 3 - The Health, Educational and Housing Facilities Board of the County of Sullivan, Tenn., sold on Tuesday $76.165 million of series 2011 hospital revenue refunding bonds for the Wellmont Health System, said a pricing sheet.
The bonds (BBB+/BBB+) were sold through Merrill Lynch.
The bonds are due 2026 and 2032 with a 6% and a 6.5% coupon, respectively. Both bonds priced at par.
Proceeds will be used to refund the health care system's series 2006A bonds.
The health care system is based in Johnson City, Tenn.
| Issuer: | Health, Educational and Housing Facilities Board of the County of Sullivan, Tenn./Wellmont Health
|
| Issue: | Series 2011 hospital revenue refunding bonds
|
| Amount: | $76.165 million
|
| Type: | Negotiated
|
| Underwriter: | Merrill Lynch
|
| Ratings: | Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Pricing date: | May 3
|
| Settlement date: | May 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $42.385 million | 2026 | Term | 6% | 100
|
| $33.78 million | 2032 | Term | 6.5% | 100
|
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