New Issue: California Statewide prices $947.62 million Loma Linda University bonds

By Sheri Kasprzak

New York, April 28 – The California Statewide Communities Development Authority sold $947.62 million of series 2016A revenue bonds for Loma Linda University Medical Center, according to a pricing sheet. The deal was upsized from $883,165,000.

The bonds (/BB/BB+) were sold through BofA Merrill Lynch.

The bonds are due 2025 to 2031 with term bonds due in 2036, 2041, 2046 and 2056. The serial bonds have 5% coupons. The 2036 bonds have a 5% coupon priced at 105.914, the 2041 bonds have a 5% coupon priced at 104.417, and the 2046 bonds have a 5% coupon priced at 104.17. The 2056 bonds have a 5.25% coupon priced at 104.364.

Proceeds will be used to construct, equip and furnish a replacement hospital for the Loma Linda University Medical Center.

Issuer:	California Statewide Communities Development Authority/Loma Linda University Medical Center
Issue:	Series 2016A revenue bonds
Amount:	$947.62 million
Type:	Negotiated
Underwriter:	BofA Merrill Lynch
Ratings:	Standard & Poor’s: BB
	Fitch: BB+
Pricing date:	April 27
Settlement date:	May 11
Amount	Maturity	Type	Coupon	Price
$8.99 million	2025	Serial	5%	113.483
$9,435,000	2026	Serial	5%	112.711
$9,905,000	2027	Serial	5%	111.811
$10.86 million	2028	Serial	5%	110.742
$11,405,000	2029	Serial	5%	110.036
$11,975,000	2030	Serial	5%	109.423
$12.57 million	2031	Serial	5%	108.815
$73.3 million	2036	Term	5%	105.914
$95,755,000	2041	Term	5%	104.417
$141,065,000	2046	Term	5%	104.17
$562.36 million	2056	Term	5.25%	104.364

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