By Sheri Kasprzak
New York, Dec. 16 - The Connecticut Health and Educational Facilities Authority priced $104.39 million of series M revenue bonds on Thursday for the Yale-New Haven Hospital, according to a pricing sheet.
The bonds (Aa3/A+/) were sold through Barclays Capital Inc. with J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. as the co-managers.
The bonds are due 2011 to 2025 with term bonds due 2030, 2034 and 2040. Serial coupons range from 3% to 5.25%. The 2030 bonds have a 5.25% coupon priced at 98.202. The 2034 bonds have a 5.75% coupon priced at 103.275. The 2040 bonds have a 5.5% coupon priced at 98.42.
Proceeds will be used to finance and reimburse the hospital for costs associated with the expansion of the adult emergency department, as well as the acquisition of equipment and improvements to the hospital.
| Issuer: | Connecticut Health and Educational Facilities Authority/Yale-New Haven Hospital
|
| Issue: | Series M revenue bonds
|
| Amount: | $104.39 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead), J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.565 million | 2011 | Serial | 3% | 101.07
|
| $1.65 million | 2012 | Serial | 3% | 102.482
|
| $1.7 million | 2013 | Serial | 4% | 105.381
|
| $1.77 million | 2014 | Serial | 4% | 105.723
|
| $1.84 million | 2015 | Serial | 5% | 110.047
|
| $1.93 million | 2016 | Serial | 5% | 110.433
|
| $2.03 million | 2017 | Serial | 5% | 109.414
|
| $2.13 million | 2018 | Serial | 5% | 108.469
|
| $2.235 million | 2019 | Serial | 5% | 107.162
|
| $2.35 million | 2020 | Serial | 5% | 105.662
|
| $2.465 million | 2021 | Serial | 5% | 104.154
|
| $2.59 million | 2022 | Serial | 5.25% | 105.213
|
| $2.725 million | 2023 | Serial | 5.25% | 104.102
|
| $2.87 million | 2024 | Serial | 5% | 100.389
|
| $3.01 million | 2025 | Serial | 5% | 98.981
|
| $17.555 million | 2030 | Term | 5.25% | 98.202
|
| $17.8 million | 2034 | Term | 5.75% | 103.275
|
| $35.175 million | 2040 | Term | 5.5% | 98.42
|
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