Published on 4/23/2015 in the Prospect News Municipals Daily.
New Issue: California Health offers up $160.54 million El Camino Hospital bonds
By Sheri Kasprzak
New York, April 23 – The California Health Facilities Financing Authority sold $160,535,000 of series 2015A revenue bonds for El Camino Hospital, according to a pricing sheet.
The bonds (A1/A+/) were sold through Citigroup Global Markets Inc.
The bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The serial coupons range from 2% to 5%. The 2040 bonds have a 5% coupon priced at 111.3, and the 2045 bonds have a 4% coupon priced at 98.624.
Proceeds will be used to finance upgrades, improvements, renovations and repairs to the El Camino Hospital – Los Gatos facility and to refund the authority’s series 2007 revenue bonds.
| Issuer: | California Health Facilities Financing Authority/El Camino Hospital
|
| Issue: | Series 2015A revenue bonds
|
| Amount: | $160,535,000
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Pricing date: | April 23
|
| Settlement date: | May 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.11 million | 2016 | Serial | 2% | 101.289
|
| $3,635,000 | 2017 | Serial | 3% | 104.026
|
| $3,745,000 | 2018 | Serial | 3% | 105.295
|
| $3.86 million | 2019 | Serial | 3% | 106.062
|
| $3,975,000 | 2020 | Serial | 4% | 111.09
|
| $4.13 million | 2021 | Serial | 4% | 112.105
|
| $4,295,000 | 2022 | Serial | 5% | 118.947
|
| $4.51 million | 2023 | Serial | 5% | 119.887
|
| $4.74 million | 2024 | Serial | 5% | 120.284
|
| $4,875,000 | 2025 | Serial | 5% | 120.9
|
| $5.12 million | 2026 | Serial | 5% | 119.095
|
| $5.3 million | 2027 | Serial | 5% | 117.415
|
| $5.41 million | 2028 | Serial | 5% | 117.415
|
| $5.6 million | 2029 | Serial | 5% | 115.128
|
| $5.78 million | 2030 | Serial | 5% | 114.317
|
| $5,945,000 | 2031 | Serial | 5% | 113.603
|
| $6.18 million | 2032 | Serial | 5% | 112.805
|
| $6.31 million | 2033 | Serial | 5% | 112.453
|
| $6,495,000 | 2034 | Serial | 5% | 112.102
|
| $6,725,000 | 2035 | Serial | 5% | 111.927
|
| $36,715,000 | 2040 | Term | 5% | 111.23
|
| $22.08 million | 2045 | Term | 4% | 98.624
|
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