By Sheri Kasprzak
New York, April 25 - Banner Health in Arizona priced $227.16 million in series 2008A revenue bonds Wednesday, an official statement said Friday.
The bonds (/AA-/AA-) were sold through the Arizona Health Facilities Authority.
Merrill Lynch and Morgan Stanley were the lead managers for the negotiated deal.
The bonds are due from 2009 to 2018 with term bonds due 2022, 2026, 2028, 2031 and 2035. The coupons on the serial bonds range from 3.5% to 5%. The 2022 bonds have a 5.25% coupon, priced at 104.148; the 2026 bonds have a 5.25% coupon, priced at 102.74; the 2028 bonds have a 5% coupon, priced at 99.868; the 2031 bonds have a 5.25% coupon, priced at 101.278; and the 2035 bonds have a 5% coupon, priced at 97.406.
Proceeds from the deal will be used to refinance a bridge loan.
Issuer: | Banner Health/Arizona Health Facilities Authority
|
Issue: | Series 2008A revenue bonds
|
Amount: | $227.16 million
|
Type: | Negotiated
|
Underwriters: | Merrill Lynch and Morgan Stanley
|
Ratings: | S&P: AA-
|
| Fitch: AA-
|
Pricing date: | April 23
|
|
Maturity | Type | Coupon | Price
|
2009 | Serial | 3.25% | 100.360
|
2010 | Serial | 5% | 103.063
|
2011 | Serial | 5% | 104.123
|
2012 | Serial | 5% | 104.942
|
2013 | Serial | 5% | 105.610
|
2014 | Serial | 5% | 106.063
|
2015 | Serial | 5% | 106.158
|
2016 | Serial | 5% | 106.000
|
2017 | Serial | 5% | 105.682
|
2018 | Serial | 5% | 105.322
|
2022 | Term | 5.25% | 104.148
|
2026 | Term | 5.25% | 102.740
|
2028 | Term | 5% | 99.868
|
2031 | Term | 5.25% | 101.278
|
2035 | Term | 5% | 97.406
|
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