Published on 1/24/2013 in the Prospect News Municipals Daily.
New Issue: California Health Facilities prices $290.37 million of Adventist Health bonds
By Sheri Kasprzak
New York, Jan. 24 - The California Health Facilities Financing Authority sold $290,365,000 of series 2013A revenue bonds for the Adventist Health System West, according to a pricing sheet.
The bonds (/A/A) were sold through Wells Fargo Securities LLC and Bank of America Merrill Lynch.
The bonds are due 2015 to 2028 with term bonds due in 2033 and 2043. The serial coupons range from 3% to 5%. The 2033 bonds have a split maturity with a 3.625% coupon priced at par and a 4% coupon priced at 103.345. The 2043 bonds have a 4% coupon priced at 101.238.
Proceeds will be used to finance capital projects at the health system's facilities.
| Issuer: | California Health Facilities Financing Authority/Adventist Health System West
|
| Issue: | Series 2013A revenue bonds
|
| Amount: | $290,365,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and Bank of America Merrill Lynch
|
| Ratings: | Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.9 million | 2015 | Serial | 3% | 104.562
|
| $5,205,000 | 2016 | Serial | 4% | 108.855
|
| $5,525,000 | 2017 | Serial | 4% | 110.736
|
| $4,965,000 | 2018 | Serial | 4% | 112.263
|
| $5.03 million | 2019 | Serial | 4% | 113.163
|
| $7.34 million | 2020 | Serial | 5% | 119.917
|
| $715,000 | 2021 | Serial | 3% | 105.491
|
| $9.51 million | 2022 | Serial | 5% | 120.668
|
| $9.79 million | 2023 | Serial | 5% | 120.903
|
| $10,205,000 | 2024 | Serial | 5% | 119.439
|
| $1,825,000 | 2025 | Serial | 3% | 99
|
| $8.7 million | 2025 | Serial | 5% | 118.667
|
| $9.92 million | 2026 | Serial | 5% | 117.901
|
| $10.27 million | 2027 | Serial | 4% | 106.383
|
| $10,595,000 | 2028 | Serial | 4% | 105.767
|
| $125,000 | 2033 | Term | 3.625% | 100
|
| $87,235,000 | 2033 | Term | 4% | 103.345
|
| $99.51 million | 2043 | Term | 4% | 101.238
|
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