New York Higher Education bonds price; Children's Healthcare of Atlanta to sell $302.2 million

By Sheri Kasprzak

New York, Nov. 12 - Municipals finally found some firmer ground on Thursday as the market cranked back up after the Veterans Day holiday.

"We're firming by about 2 or 3 basis points," said one trader reached in the afternoon.

"There's not a lot going on in primary. We're seeing more action here than we have all week, so it's a good day."

Amid the trading action, the California Statewide Development Agency's recently priced Proposition 1A receivables bonds were seen moving. The 4% 2013 bonds were trading at 3.4%. The bonds priced Tuesday at par.

Elsewhere, Atlanta's water and wastewater revenue bonds were trading. The 5% 2023 bonds were trading at 4.38%.

In other trading news, Suffolk County Water Authority of New York saw its recently priced revenue bonds in action. The 5% 2019 bonds were seen Thursday afternoon at 3.28%.

In primary market activity, the New York Mortgage Agency priced Thursday $100 million in series 2009A NYHelps Education Loan revenue bonds for the New York Higher Education Finance Authority, said a pricing sheet.

The bonds (/A+/A-) were sold through underwriters Merrill Lynch & Co., Morgan Stanley & Co. Inc., M&T Securities Inc., Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC.

The bonds are due 2012 to 2026 with coupons from 3.25% to 5.25%.

Proceeds will be used to make educational loans.

Children's Healthcare of Atlanta to price

Moving to the coming week's pricing action, Children's Healthcare of Atlanta is set to sell $302.195 million in series 2009 revenue bonds on Wednesday, said a sales calendar.

The bonds (Aa2/AA/) will be sold through lead managers J.P. Morgan Securities Inc. and SunTrust Robinson Humphrey.

The deal includes $251.985 million in series 2009 revenue anticipation certificates through the DeKalb Private Hospital Authority and $50.21 million in series 2009 revenue bonds through the Development Authority of Fulton County.

The DeKalb certificates are due 2010 to 2019 with term bonds due 2024, 2029, 2034 and 2039. The Fulton bonds are also due 2010 to 2019 with term bonds due 2024, 2029, 2034 and 2039.

Proceeds will be used to refund bonds issued for the health-care system by each authority.

University of North Carolina sale ahead

Also coming up, the University of North Carolina at Chapel Hill is set to sell $224 million in series 2009 general revenue bonds, according to a preliminary official statement. The pricing is scheduled for Tuesday with a retail order period on Monday, said a sales calendar.

The sale includes $109 million in series 2009A revenue bonds and $115 million in series 2009B Build America Bonds.

The bonds (Aa1/AA+/AA+) will be sold through Merrill Lynch.

The 2009A bonds are due 2010 to 2029, and the 2009B bonds are due 2039.

Proceeds will be used to repay a portion of the university's outstanding commercial paper.

Anchorage sale planned

Coming up on Thursday, the City of Anchorage in Alaska is set to price $130 million in series 2009 senior lien electric revenue bonds, said a preliminary official statement, said a sales calendar.

The sale includes $15.405 million in series 2009A tax-exempt bonds and $114.595 million in series 2009B Build America Bonds.

The bonds (/A+/A+) will be sold on a negotiated basis with JPMorgan as the lead manager.

The series 2009A bonds are due 2019 to 2024, and the 2009B bonds are due 2024 to 2026 with term bonds due 2029 and 2039.

Proceeds will be used to fund electric infrastructure projects.

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