Published on 4/17/2012 in the Prospect News Municipals Daily.
New Issue: California Health brings $158.73 million Memorial Health revenue bonds
By Sheri Kasprzak
New York, April 17 - The California Health Facilities Financing Authority priced $158.73 million of series 2012A revenue bonds for Memorial Health Services Inc., according to a pricing sheet.
The bonds (/AA-/AA-) were sold through Morgan Stanley & Co. LLC and Citigroup Global Markets Inc.
The bonds are due 2012 to 2027 with a term bond due in 2033. The serial coupons range from 2% to 5%. The 2033 bonds have a split maturity with a 4.125% coupon priced at 98.944 and a 5% coupon priced at 109.442.
Proceeds will be used for the general corporate needs of the health care provider.
| Issuer: | California Health Facilities Financing Authority/Memorial Health Services Inc.
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $158.73 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. (lead)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | April 17
|
| Settlement date: | April 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.29 million | 2012 | Serial | 2% | 100.735
|
| $3 million | 2013 | Serial | 2% | 103.653
|
| $4,245,000 | 2013 | Serial | 3% | 102.226
|
| $3 million | 2014 | Serial | 3% | 105.489
|
| $4.46 million | 2014 | Serial | 4% | 107.897
|
| $3 million | 2015 | Serial | 3% | 106.803
|
| $4.75 million | 2015 | Serial | 5% | 113.539
|
| $3 million | 2016 | Serial | 4% | 111.457
|
| $5.08 million | 2016 | Serial | 5% | 115.748
|
| $4 million | 2017 | Serial | 4% | 112.385
|
| $4.44 million | 2017 | Serial | 5% | 117.567
|
| $4 million | 2018 | Serial | 3% | 106.818
|
| $4.8 million | 2018 | Serial | 5% | 118.887
|
| $4 million | 2019 | Serial | 4% | 112.498
|
| $5.17 million | 2019 | Serial | 5% | 119.329
|
| $4 million | 2020 | Serial | 4% | 112.229
|
| $5.58 million | 2020 | Serial | 5% | 119.826
|
| $5 million | 2021 | Serial | 4% | 111.289
|
| $5,005,000 | 2021 | Serial | 5% | 119.591
|
| $5 million | 2022 | Serial | 4% | 110.409
|
| $5.45 million | 2022 | Serial | 5% | 119.383
|
| $10,935,000 | 2023 | Serial | 5% | 116.824
|
| $11.51 million | 2024 | Serial | 5% | 115.569
|
| $12,075,000 | 2025 | Serial | 5% | 114.235
|
| $12,675,000 | 2026 | Serial | 5% | 113.388
|
| $3 million | 2027 | Serial | 5% | 112.362
|
| $1.4 million | 2033 | Term | 4.125% | 98.944
|
| $19.87 million | 2033 | Term | 5% | 109.442
|
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