By Cristal Cody
Springdale, Ark., April 22 - Essentia Health released details on Tuesday of the sale of $106.335 million health care facilities revenue bonds, which priced with 4.75% to 5% coupons.
The sale included $63.7 million series 2008D bonds through Cass County, N.D., and $42.635 million series 2008E bonds through the Minnesota Agricultural and Economic Development Board.
The series 2008D North Dakota bonds priced with a 4.75% coupon to yield 5% for the Feb. 15, 2038 maturity. The term bond due Feb. 15, 2040 priced with a 5% coupon to yield 5.08%.
The series 2008E Minnesota bonds due Feb. 15, 2038 priced with a 4.75% coupon to yield 4.86%. The term bond due Feb. 15, 2037 priced with a 5% coupon to yield 4.88%.
The bonds are insured by Assured Guaranty Corp.
Goldman, Sachs & Co. is the senior manager for the North Dakota bonds.
Piper Jaffray & Co. is the senior manager for the negotiated sale of the Minnesota bonds.
Proceeds will be used to pay or refinance the costs of acquiring and equipping facilities in North Dakota and Minnesota and to refinance refunded bonds.
| Issuer: | Essentia Health
|
| Issue: | Health care facilities revenue bonds
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| Type: | Negotiated
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| Ratings: | S&P: AAA
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| Fitch: AAA
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| Pricing date: | April 16
|
|
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| Issuer: | Essentia Health/Cass County, N.D.
|
| Amount: | $63.7 million
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| Coupons: | 4.75%, 5%
|
| Yields: | 5%, 5.08%
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| Maturities: | 2038 and 2040
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| Underwriter: | Goldman, Sachs & Co. (lead)
|
|
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| Issuer: | Essentia Health/Minnesota Agricultural and Economic Development Board
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| Amount: | $42.635 million
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| Coupons: | 4.75%, 5%
|
| Yields: | 4.86%, 4.88%
|
| Maturities: | 2037 and 2038
|
| Underwriter: | Piper Jaffray & Co. (lead)
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