By Sheri Kasprzak
New York, May 1 - The Industrial Development Authority of Maricopa County in Arizona priced $126.025 million in a downsized offering of series 2009 health facility revenue bonds, according to a pricing sheet released Friday by the issuer.
The bonds were sold for Catholic Health Facilities Financing Authority for Catholic Healthcare West.
The authority had originally planned to price $590.6 million of the bonds.
The sale included $50.91 million in series 2009A bonds, which are due 2010 to 2019 with a term bond due 2039; $37.285 million in series 2009B variable-rate bonds, which are due July 1, 2025; and $37.83 million in series 2009C variable-rate bonds, which are due July 1, 2038.
The 2009A bonds have coupons from 4% to 6% and yields from 2.58% to 6.13%. The 2009B bonds have a 5% coupon, priced at 102.261, and the 2009C bonds have a 5% coupon, priced at 100.803.
J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. are the lead managers for the negotiated deal.
Proceeds will be used to fund capital expenses at Catholic Healthcare West and refund existing current interest bonds.
| Issuer: | Industrial Development Authority of Maricopa County / Catholic Health Facilities Financing Authority for Catholic Healthcare West
|
| Issue: | Series 2009 health facility revenue bonds
|
| Amount: | $126.025 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. (lead)
|
| Pricing date: | April 30
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Yield | Price
|
| 2010 | Serial | 4% | 2.58% | 101.569
|
| 2011 | Serial | 4% | 3.07% | 101.900
|
| 2012 | Serial | 5% | 3.37% | 104.800
|
| 2013 | Serial | 5% | 3.60% | 101.519
|
| 2014 | Serial | 4% | 3.97% | 100.134
|
| 2014 | Serial | 5% | 3.97% | 104.734
|
| 2015 | Serial | 4% | 4.23% | 98.765
|
| 2016 | Serial | 5% | 4.43% | 103.447
|
| 2017 | Serial | 4.5% | 4.64% | 99.055
|
| 2018 | Serial | 4.75% | 4.86% | 99.191
|
| 2019 | Serial | 5% | 5.06% | 99.522
|
| 2039 | Term | 6% | 6.13% | 98.214
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| July 1, 2025 | Term | 5% | 102.261
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Price
|
| July 1, 2038 | Term | 5% | 100.803
|
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