Published on 7/25/2014 in the Prospect News Municipals Daily.
New Issue: Washington Health Care sells $53.49 million of Overlake revenue bonds
By Sheri Kasprzak
New York, July 25 – The Washington Health Care Facilities Authority sold $53,495,000 of series 2014 revenue bonds for the Overlake Hospital Medical Center, said a pricing sheet.
The bonds (A2/A/) were sold through BofA Merrill Lynch and RBC Capital Markets LLC.
The bonds are due 2015 to 2034 with a term bond due in 2038. The serial coupons range from 4% to 5% with 0.21% to 4.14% yields. The 2038 bonds have a 5% coupon to yield 4.13%.
Proceeds will be used to refund the authority’s series 2003 and 2005A-B revenue bonds.
Issuer: | Washington Health Care Facilities Authority/Overlake Hospital Medical Center
|
Issue: | $53,495,000
|
Type: | Negotiated
|
Underwriters: | BofA Merrill Lynch and RBC Capital Markets LLC (lead)
|
Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
Pricing date: | July 17
|
Settlement date: | Aug. 6
|
|
Amount | Maturity | Type | Coupon | Yield
|
$3.06 million | 2015 | Serial | 4% | 0.21%
|
$3.2 million | 2016 | Serial | 5% | 0.49%
|
$1,225,000 | 2017 | Serial | 5% | 0.84%
|
$1.29 million | 2018 | Serial | 5% | 1.26%
|
$1.36 million | 2019 | Serial | 5% | 1.69%
|
$1,425,000 | 2020 | Serial | 5% | 2.04%
|
$1,495,000 | 2021 | Serial | 5% | 2.34%
|
$1,575,000 | 2022 | Serial | 5% | 2.60%
|
$1,655,000 | 2023 | Serial | 5% | 2.83%
|
$1.74 million | 2024 | Serial | 5% | 3.01%
|
$1.83 million | 2025 | Serial | 5% | 3.18%
|
$1,925,000 | 2026 | Serial | 5% | 3.33%
|
$2,025,000 | 2027 | Serial | 5% | 3.44%
|
$2.13 million | 2028 | Serial | 5% | 3.50%
|
$2,235,000 | 2029 | Serial | 5% | 3.58%
|
$2.35 million | 2030 | Serial | 5% | 3.65%
|
$2.46 million | 2031 | Serial | 4% | 3.99%
|
$2.56 million | 2032 | Serial | 4% | 4.05%
|
$2,665,000 | 2033 | Serial | 4% | 4.11%
|
$2,775,000 | 2034 | Serial | 4% | 4.14%
|
$12,515,000 | 2038 | Term | 5% | 4.13%
|
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