Published on 2/6/2012 in the Prospect News Municipals Daily.
New Issue: Roanoke, Va., Economic Development prices $88.46 million bonds for Carilion Clinic
By Sheri Kasprzak
New York, Feb. 6 - The Economic Development Authority of the City of Roanoke, Va., sold $88.46 million of series 2012 hospital revenue bonds for the Carilion Clinic Obligated Group, according to a term sheet.
The bonds (A1/A+/) were sold through Goldman Sachs & Co. and Barclays Capital Inc. The co-managers were PNC Capital Markets LLC and Wells Fargo Securities LLC.
The bonds are due 2012 to 2030 with coupons from 1% to 5%.
Proceeds will be used to renovate portions of the Carilion Roanoke Memorial Hospital and Carilion Roanoke Community Hospital, as well as to purchase equipment for the hospital facilities.
| Issuer: | Economic Development Authority of the City of Roanoke/Carilion Clinic Obligated Group
|
| Issue: | Series 2012 hospital revenue bonds
|
| Amount: | $88.46 million
|
| Type: | Negotiated
|
| Underwriters | Goldman Sachs & Co. and Barclays Capital Inc. (lead), PNC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.01 million | 2012 | Serial | 1% | 100.291
|
| $4.89 million | 2013 | Serial | 4% | 104.857
|
| $5,085,000 | 2014 | Serial | 4% | 107.326
|
| $5,475,000 | 2015 | Serial | 5% | 112.601
|
| $6,265,000 | 2016 | Serial | 5% | 115.059
|
| $5,835,000 | 2017 | Serial | 5% | 116.939
|
| $6.13 million | 2018 | Serial | 5% | 118.052
|
| $7,015,000 | 2019 | Serial | 5% | 118.41
|
| $6.96 million | 2020 | Serial | 5% | 118.738
|
| $7,895,000 | 2021 | Serial | 5% | 118.695
|
| $8.29 million | 2022 | Serial | 5% | 118.43
|
| $4 million | 2023 | Serial | 3% | 98.382
|
| $4,705,000 | 2023 | Serial | 5% | 116.964
|
| $1,325,000 | 2024 | Serial | 5% | 115.233
|
| $1.4 million | 2025 | Serial | 5% | 114.379
|
| $1,475,000 | 2026 | Serial | 5% | 113.252
|
| $1,555,000 | 2027 | Serial | 5% | 112.231
|
| $1.64 million | 2028 | Serial | 5% | 111.312
|
| $1,715,000 | 2029 | Serial | 4% | 99.13
|
| $1,795,000 | 2030 | Serial | 5% | 109.771
|
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