Published on 5/15/2013 in the Prospect News Municipals Daily.
New Issue: Carolinas Health Care, N.C., prices $127.27 million revenue bonds
By Sheri Kasprzak
New York, May 15 - The Charlotte-Mecklenburg Hospital Authority of North Carolina sold $127,265,000 of series 2013A health care revenue and refunding bonds for Carolinas Health Care System, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through Wells Fargo Securities LLC.
The bonds are due 2014 to 2033 with a term bond due in 2039. The serial coupons range from 1% to 5%, and the 2039 bonds have a 4% coupon priced at 99.677 and a 5% coupon priced at 111.663.
Proceeds will be used to construct additional health facilities for Carolinas, as well as to refund the system's series 2009A revenue bonds.
| Issuer: | Charlotte-Mecklenburg Hospital Authority/Carolinas Health Care System
|
| Issue: | Series 2013A health care revenue and refunding bonds
|
| Amount: | $127,265,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | May 14
|
| Settlement date: | May 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,245,000 | 2014 | Serial | 1% | 100.469
|
| $1,875,000 | 2015 | Serial | 3% | 104.324
|
| $2.19 million | 2016 | Serial | 4% | 108.851
|
| $2.31 million | 2017 | Serial | 5% | 114.705
|
| $2,415,000 | 2018 | Serial | 3% | 108.201
|
| $2.49 million | 2019 | Serial | 4% | 113.828
|
| $2,605,000 | 2020 | Serial | 5% | 120.718
|
| $2.8 million | 2021 | Serial | 3% | 106.761
|
| $2.98 million | 2022 | Serial | 4% | 113.591
|
| $3,235,000 | 2023 | Serial | 5% | 122.167
|
| $3,505,000 | 2024 | Serial | 5% | 120.353
|
| $3.79 million | 2025 | Serial | 5% | 119.317
|
| $4,105,000 | 2026 | Serial | 5% | 118.292
|
| $4.75 million | 2027 | Serial | 5% | 117.369
|
| $4.99 million | 2028 | Serial | 5% | 116.546
|
| $5.25 million | 2029 | Serial | 5% | 115.82
|
| $6,375,000 | 2030 | Serial | 5% | 115.28
|
| $13,555,000 | 2032 | Serial | 3.5% | 97.188
|
| $7,145,000 | 2033 | Serial | 3.625% | 98.133
|
| $7,385,000 | 2039 | Term | 4% | 99.677
|
| $42.27 million | 2039 | Term | 5% | 111.663
|
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