Published on 11/6/2012 in the Prospect News Municipals Daily.
New Issue: California Health sells $235.41 million of City of Hope bonds
By Sheri Kasprzak
New York, Nov. 6 - The California Health Facilities Financing Authority priced on Tuesday $235,405,000 of series 2012A revenue bonds for the City of Hope, said a pricing sheet.
The bonds (A1/A+/AA-) were sold through J.P. Morgan Securities LLC.
The bonds are due 2014 to 2027 with term bonds due in 2032, 2035 and 2039. The serial coupons range from 4% to 5%. The 2032 bonds have a split maturity with a 3.75% coupon priced at par and a 5% coupon priced at 114.658. The 2035 bonds have a 5% coupon priced at 113.108. The 2039 bonds have a split maturity with a 4% coupon priced at par and a 5% coupon priced at 111.85.
Proceeds will be used to repay all of the obligated group's long-term outstanding debt.
| Issuer: | California Health Facilities Financing Authority/City of Hope
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $234,405,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Barclays and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's A1
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Pricing date: | Nov. 6
|
| Settlement date: | Nov. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.93 million | 2014 | Serial | 5% | 108.956
|
| $5.18 million | 2015 | Serial | 5% | 112.532
|
| $5.45 million | 2016 | Serial | 5% | 115.656
|
| $5.73 million | 2017 | Serial | 5% | 118.29
|
| $5.99 million | 2018 | Serial | 4% | 114.238
|
| $6,265,000 | 2019 | Serial | 5% | 121.185
|
| $6,555,000 | 2020 | Serial | 4% | 114.245
|
| $6.86 million | 2021 | Serial | 5% | 121.389
|
| $7.21 million | 2022 | Serial | 5% | 121.412
|
| $7,575,000 | 2023 | Serial | 5% | 119.849
|
| $7.97 million | 2024 | Serial | 5% | 119.173
|
| $8,375,000 | 2025 | Serial | 5% | 118.311
|
| $8,805,000 | 2026 | Serial | 5% | 117.645
|
| $9,255,000 | 2027 | Serial | 5% | 117.078
|
| $20 million | 2032 | Term | 3.75% | 100
|
| $33.26 million | 2032 | Term | 5% | 114.658
|
| $38,525,000 | 2035 | Term | 5% | 113.108
|
| $20 million | 2039 | Term | 4% | 100
|
| $27.47 million | 2039 | Term | 5% | 111.85
|
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