Published on 11/23/2011 in the Prospect News Municipals Daily.
New Issue: Westchester County Health Care, N.Y., sells $64.28 million revenue bonds
By Sheri Kasprzak
New York, Nov. 23 - The Westchester County Health Care Corp. of New York came to market with $64.28 million of series 2011 revenue bonds in two tranches, according to a pricing sheet.
The offering included $48.985 million of series 2011A bonds and $15.295 million of series 2011B bonds.
The 2011A bonds are due 2012 to 2026 with term bonds due in 2036 and 2041. The serial coupons range from 2% to 5%. The 2036 bonds have a 5% coupon priced at 97.713, and the 2041 bonds have a 5.125% coupon priced at 97.091.
Wells Fargo Securities LLC was the senior manager for the bonds (A3/BBB).
Proceeds will be used to finance capital projects, refund outstanding bond anticipation notes and fund a retirement incentives program.
| Issuer: | Westchester County Health Care Corp.
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $64.28 million
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB
|
| Pricing date: | Nov. 22
|
| Settlement date | Dec. 15
|
|
|
| $48.985 million series 2011A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $100,000 | 2012 | Serial | 2% | 100.564
|
| $100,000 | 2013 | Serial | 2% | 100.699
|
| $100,000 | 2014 | Serial | 3% | 102.979
|
| $100,000 | 2015 | Serial | 3% | 102.543
|
| $100,000 | 2016 | Serial | 3% | 101.635
|
| $100,000 | 2017 | Serial | 3% | 100.265
|
| $100,000 | 2018 | Serial | 3.25% | 99.875
|
| $1.01 million | 2019 | Serial | 3.5% | 99.792
|
| $610,000 | 2020 | Serial | 3.75% | 99.847
|
| $1.4 million | 2020 | Serial | 5% | 109.203
|
| $100,000 | 2021 | Serial | 4% | 100.158
|
| $2.005 million | 2021 | Serial | 5% | 108.259
|
| $2.205 million | 2022 | Serial | 4% | 98.78
|
| $2.295 million | 2023 | Serial | 4% | 97.137
|
| $2.385 million | 2024 | Serial | 4.25% | 97.763
|
| $2.49 million | 2025 | Serial | 4.5% | 98.775
|
| $2.6 million | 2026 | Serial | 4.5% | 97.453
|
| $18.485 million | 2032 | Term | 5% | 97.713
|
| $12.7 million | 2041 | Term | 5.125% | 97.091
|
|
|
| $15.295 million series 2011B bonds
|
| Maturity | Type | Coupon | Price
|
| 2041 | Term | 5.125% | 97.091
|
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