Published on 1/24/2014 in the Prospect News Municipals Daily.
New Issue: California Statewide offers up $70 million of Henry Mayo Newhall bonds
By Sheri Kasprzak
New York, Jan. 24 - The California Statewide Communities Development Authority sold $70 million of series 2014 insured revenue bonds for the Henry Mayo Newhall Memorial Hospital, according to a pricing sheet.
The bonds (/AA-/) were sold through senior manager Ziegler Capital Inc.
The bonds are due 2015 to 2028 with term bonds due in 2034 and 2043. The serial coupons range from 2% to 5% with 1.15% to 4.62% yields. The 2034 bonds have a 5% coupon priced at 99.356 to yield 5.05%. The 2043 bonds have a 5.25% coupon priced at 99.249 to yield 5.3%.
Proceeds will be used to renovate, remodel and expand certain facilities for the hospital, as well as to refund existing debt.
| Issuer: | California Statewide Communities Development Authority/Henry Mayo Newhall Memorial Hospital
|
| Issue: | Series 2014 insured revenue bonds
|
| Amount: | $70 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Inc.
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | Jan. 23
|
| Settlement date: | Feb. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $440,000 | 2015 | Serial | 2% | 101.389 | 1.15%
|
| $440,000 | 2016 | Serial | 2% | 101.531 | 1.41%
|
| $450,000 | 2017 | Serial | 3% | 104.406 | 1.75%
|
| $445,000 | 2018 | Serial | 3% | 102.893 | 2.34%
|
| $445,000 | 2019 | Serial | 4% | 106.341 | 2.78%
|
| $460,000 | 2020 | Serial | 4% | 104.574 | 3.23%
|
| $1,795,000 | 2021 | Serial | 5% | 110.133 | 3.48%
|
| $1,895,000 | 2022 | Serial | 5% | 109.007 | 3.77%
|
| $1.93 million | 2023 | Serial | 5% | 108.189 | 3.97%
|
| $2,035,000 | 2024 | Serial | 5% | 106.456 | 4.24%
|
| $2,145,000 | 2025 | Serial | 5% | 105.315 | 4.37%
|
| $2.22 million | 2026 | Serial | 5% | 104.361 | 4.48%
|
| $2,325,000 | 2027 | Serial | 5% | 103.589 | 4.57%
|
| $3,265,000 | 2028 | Serial | 5% | 103.163 | 4.62%
|
| $18.28 million | 2034 | Term | 5% | 99.356 | 5.05%
|
| $31.43 million | 2043 | Term | 5.25% | 99.249 | 5.3%
|
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