Published on 6/11/2014 in the Prospect News Municipals Daily.
New Issue: California Health brings $277.6 million Providence Health bond offering
By Sheri Kasprzak
New York, June 11 – The California Health Facilities Financing Authority priced $277,605,000 of series 2014A revenue bonds for the Providence Health & Services, according to a pricing sheet.
The bonds (/AA/AA) were sold through BofA Merrill Lynch.
The bonds are due 2015 to 2034 with a term bond due in 2038. The serial coupons range from 2% to 5%. The 2038 bonds have a 4% coupon priced at 98.315 and a 5% coupon priced at 118.374.
Proceeds will be used to refund the authority’s series 2008A revenue bonds issued for Providence Health & Services.
| Issuer: | California Health Facilities Financing Authority/Providence Health & Services
|
| Issue: | Series 2014A revenue bonds
|
| Amount: | $277,605,000
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | June 11
|
| Settlement date: | June 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,445,000 | 2015 | Serial | 2% | 102.296
|
| $1,475,000 | 2016 | Serial | 3% | 105.806
|
| $1.52 million | 2017 | Serial | 4% | 110.287
|
| $1.58 million | 2018 | Serial | 5% | 115.747
|
| $8.51 million | 2019 | Serial | 5% | 117.427
|
| $10,855,000 | 2020 | Serial | 5% | 118.482
|
| $10,585,000 | 2021 | Serial | 5% | 118.772
|
| $525,000 | 2022 | Serial | 4% | 111.687
|
| $11,535,000 | 2022 | Serial | 5% | 119.133
|
| $12.62 million | 2023 | Serial | 5% | 119.278
|
| $13,265,000 | 2024 | Serial | 5% | 119.306
|
| $7.7 million | 2025 | Serial | 5% | 119.203
|
| $8.1 million | 2026 | Serial | 5% | 118.918
|
| $13.48 million | 2027 | Serial | 5% | 118.492
|
| $12.25 million | 2028 | Serial | 4% | 104.883
|
| $1,915,000 | 2028 | Serial | 5% | 118.834
|
| $8,625,000 | 2029 | Serial | 5% | 118.661
|
| $9,065,000 | 2030 | Serial | 5% | 118.476
|
| $9.5 million | 2031 | Serial | 5% | 118.305
|
| $9,825,000 | 2032 | Serial | 5% | 118.023
|
| $10,585,000 | 2033 | Serial | 5% | 117.638
|
| $5.73 million | 2034 | Serial | 5% | 117.47
|
| $53,455,000 | 2038 | Term | 4% | 98.315
|
| $53.46 million | 2038 | Term | 5% | 118.374
|
|
|
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