By Sheri Kasprzak
New York, Nov. 13 - WellSpan Health priced $200.53 million in series 2008A revenue bonds on Wednesday, said Richard Harley, the health care provider's chief financial officer. The bonds were sold through the General Authority of Southcentral Pennsylvania.
The serial bonds (//AA-) are due from 2009 to 2018 with coupons from 3% to 6%, all priced at par. The sale also included term bonds due 2025 and 2029. Both term bonds have 6% coupons and were priced at par.
The authority had planned to sell $265.555 million in the series 2008A bonds, but that amount was reduced. The offering had been scheduled to price in September but was postponed several times.
Citigroup Global Markets was the lead manager for the negotiated sale.
Proceeds will be used to refund the authority's series 2002, 2005A, 2005B, 2005C, 2005D, 2007A and 2007B bonds.
| Issuer: | General Authority of Southcentral Pennsylvania/WellSpan Health
|
| Issue: | Series 2008A revenue bonds
|
| Amount: | $200.53 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets (lead)
|
| Rating: | Fitch: AA-
|
| Pricing date: | Nov. 12
|
|
|
| Maturity | Type | Coupon | Price
|
| 2009 | Serial | 3% | Par
|
| 2009 | Serial | 4% | Par
|
| 2010 | Serial | 5% | Par
|
| 2011 | Serial | 4.25% | Par
|
| 2011 | Serial | 5% | Par
|
| 2012 | Serial | 4.5% | Par
|
| 2012 | Serial | 5.25% | Par
|
| 2013 | Serial | 4.5% | Par
|
| 2013 | Serial | 5.25% | Par
|
| 2014 | Serial | 5.25% | Par
|
| 2015 | Serial | 5.5% | Par
|
| 2016 | Serial | 6% | Par
|
| 2017 | Serial | 6% | Par
|
| 2018 | Serial | 5.625% | Par
|
| 2025 | Term | 6% | Par
|
| 2029 | Term | 6% | Par
|
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