Published on 8/28/2012 in the Prospect News Municipals Daily.
New Issue: Wisconsin HEFA brings $70 million of Gundersen Lutheran revenue bonds
By Sheri Kasprzak
New York, Aug. 28 - The Wisconsin Health and Educational Facilities Authority priced $70 million of series 2012 revenue bonds for the Gundersen Lutheran Administrative Services Inc., according to a pricing sheet.
The bonds (A1/A+/A+) were sold through Bank of America Merrill Lynch. The co-manager was Wells Fargo Securities LLC.
The bonds are due 2013 to 2029 with term bonds due in 2037, 2043 and 2044. The serial coupons range from 2% to 3.625%. The 2037 bonds have a 4% coupon priced at 98.436. The 2043 bonds have a 4% coupon priced at 97.729 and the 2044 bonds have a 5% coupon, but the bonds were not reoffered.
Proceeds will be used to reimburse Gundersen Lutheran for the costs of construction, equipment and remodeling of the La Crosse hospital campus.
| Issuer: | Wisconsin Health and Educational Facilities Authority/Gundersen Lutheran Administrative Services Inc.
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $70 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Wells Fargo Securities LLC (co-manager)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 27
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $155,000 | 2013 | Serial | 2% | 101.384
|
| $160,000 | 2014 | Serial | 2% | 102.083
|
| $165,000 | 2015 | Serial | 2% | 102.483
|
| $165,000 | 2016 | Serial | 3% | 106.402
|
| $170,000 | 2017 | Serial | 3% | 106.363
|
| $175,000 | 2018 | Serial | 3% | 105.388
|
| $180,000 | 2019 | Serial | 3% | 103.777
|
| $185,000 | 2020 | Serial | 3% | 102.102
|
| $190,000 | 2021 | Serial | 3% | 100.715
|
| $200,000 | 2022 | Serial | 3% | 99.651
|
| $205,000 | 2023 | Serial | 3.125% | 98.561
|
| $215,000 | 2024 | Serial | 3.25% | 98.418
|
| $215,000 | 2025 | Serial | 3.25% | 96.972
|
| $225,000 | 2026 | Serial | 3.5% | 98.678
|
| $235,000 | 2027 | Serial | 3.5% | 97.808
|
| $240,000 | 2028 | Serial | 3.5% | 97.464
|
| $255,000 | 2029 | Serial | 3.625% | 98.178
|
| $1,425,000 | 2037 | Term | 4% | 98.436
|
| $23.82 million | 2043 | Term | 4% | 97.729
|
| $32.42 million | 2044 | Term | 5% | NRO
|
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