Published on 4/11/2013 in the Prospect News Municipals Daily.
New Issue: Sutter Health, Calif., offers $450 million series 2013A revenue bonds
By Sheri Kasprzak
New York, April 11 - The California Health Facilities Financing Authority priced $450 million of series 2013A revenue bonds for Sutter Health, according to a pricing sheet.
The bonds (Aa3//AA-) were sold through Morgan Stanley & Co. LLC and BofA Merrill Lynch.
The bonds are due Aug. 15, 2052, and have a 5% coupon priced at 108.374.
Proceeds will be used to finance the costs to construct, renovate and equip health care facilities.
| Issuer: | California Health Facilities Financing Authority/Sutter Health
|
| Issue: | Series 2013A revenue bonds
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| Amount: | $450 million
|
| Maturity: | Aug. 15, 2052
|
| Coupon: | 5%
|
| Price: | 108.374
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead), Sutter Securities Inc. (co-manager)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | April 11
|
| Settlement date: | April 24
|
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