By Sheri Kasprzak
New York, May 4 - The California Statewide Communities Development Authority sold $86.405 million of series 2011 health facilities revenue bonds (//AA-/F1+) for the Community Hospital of the Monterey Peninsula, said a pricing sheet.
Morgan Stanley & Co. Inc. was the underwriter for the offering.
The sale included $31.405 million of series 2011A bonds and $55 million of series 2011B variable-rate bonds.
The 2011A bonds are due 2012 to 2022 with term bonds due in 2026 and 2033. The serial coupons range from 3% to 5%. The 2026 bonds have a 5.375% coupon priced at 98.728. The 2033 bonds have a 6% coupon priced at 98.792.
The 2011B bonds are due June 1, 2033 and bear interest at the weekly rate.
Proceeds will be used to finance ongoing construction and renovation at the hospital's facilities and to repay a line of credit.
The hospital is located in Monterey, Calif.
| Issuer: | California Statewide Communities Development Authority/Community Hospital of the Monterey Peninsula
|
| Issue: | Series 2011 health facilities revenue bonds
|
| Amount: | $86.405 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Ratings: | Fitch: AA-/F1+
|
| Pricing date: | May 4
|
| Settlement date: | May 12
|
|
|
| $31.405 million series 2011A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $835,000 | 2012 | Serial | 3% | 101.592
|
| $865,000 | 2013 | Serial | 4% | 103.899
|
| $900,000 | 2014 | Serial | 4% | 104.381
|
| $935,000 | 2015 | Serial | 4% | 103.788
|
| $970,000 | 2016 | Serial | 3.25% | 99.422
|
| $1.01 million | 2017 | Serial | 5% | 106.99
|
| $1.065 million | 2018 | Serial | 5% | 105.964
|
| $1.11 million | 2019 | Serial | 4.125% | 98.549
|
| $1.165 million | 2020 | Serial | 5% | 102.745
|
| $1.22 million | 2021 | Serial | 4.625% | 98.771
|
| $1.28 million | 2022 | Serial | 5% | 100.31
|
| $5.865 million | 2026 | Term | 5.375% | 98.728
|
| $14.185 million | 2033 | Term | 6% | 98.792
|
|
|
| $55 million series 2011B bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2033 | Term | Weekly | 100
|
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