By Sheri Kasprzak
New York, Dec. 14 – The California Public Finance Authority priced $160 million of series 2015 notes for Verity Health Inc., according to a statement from the health care system, which is operated by the Daughters of Charity Ministries Corp.
The offering included $60 million of series 2015A notes, $45 million of series 2015B notes, $10 million of 2015C notes and $45 million of 2015D notes.
All the notes are due June 10, 2019. The 2015A notes have a 7.25% coupon, the 2015B notes a 7.25% coupon, the 2015C notes a 9.5% coupon and the 2015D notes a 7.25% coupon, all priced at par.
Duncan-Williams Inc. was the underwriter.
Proceeds will be used to pay in full the health care system’s series 2014 bonds.
| Issuer: | California Public Finance Authority/Verity Health Inc.
|
| Issue: | Series 2015 refunding bonds
|
| Amount: | $160 million
|
| Type: | Negotiated
|
| Underwriter: | Duncan-Williams Inc.
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 14
|
|
|
| $60 million series 2015A notes
|
| Maturity | Type | Coupon | Price
|
| June 10, 2019 | Term | 7.25% | 100
|
|
|
| $45 million series 2015B notes
|
| Maturity | Type | Coupon | Price
|
| June 10, 2019 | Term | 7.25% | 100
|
|
|
| $10 million series 2015C notes
|
| Maturity | Type | Coupon | Price
|
| June 10, 2019 | Term | 9.5% | 100
|
|
|
| $45 million series 2015D notes
|
| Maturity | Type | Coupon | Price
|
| June 10, 2019 | Term | 7.25% | 100
|
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