By Sheri Kasprzak
New York, Oct. 24 - The Catholic Health Initiatives brought to market $600.6 million of series 2013A revenue bonds in four tranches, according to a pricing sheet.
The offering included $254,765,000 of series 2013A Colorado Health Facilities Authority revenue bonds, $205.09 million of series 2013A Chattanooga Health, Educational and Housing Facility Board revenue bonds, $78,535,000 of series 2013A Kentucky Economic Development Finance Authority revenue bonds and $62.21 million of series 2013A Washington Health Care Facilities Authority revenue bonds.
The Colorado Health bonds are due 2033, 2040 and 2045. The 2033 bonds have a 5% coupon priced at 99.143 to yield 5.07% and the 2040 bonds have a 5.25% coupon priced at 98.042 to yield 5.39%. The 2045 bonds have a 5.25% coupon priced at 96.866 to yield 5.46%.
The Chattanooga bonds are due 2033, 2040 and 2045. The 2033 bonds have a 5% coupon priced at 99.143 to yield 5.07% and the 2040 bonds have a 5.25% coupon priced at 98.042 to yield 5.39%. The 2045 bonds have a 5.25% coupon priced at 97.011 to yield 5.45%.
The Kentucky bonds are due 2040 and 2045. The 2040 bonds have a 5.375% coupon priced at 99.784 to yield 5.39% and the 2045 bonds have a 5.25% coupon priced at 96.866 to yield 5.46%.
The Washington Health bonds are due 2040 and 2045. The 2040 bonds have a 5.25% coupon priced at 98.042 to yield 5.39% and a 5.375% coupon priced at 99.784 to yield 5.39%. The 2045 bonds have a 5.75% coupon priced at 103.143 to yield 5.31%.
The bonds (A1/A+/A+) were sold on a negotiated basis with Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC.
Proceeds will be used to finance or refinance the construction, acquisition, rehabilitation, renovation and improvement of Catholic Health facilities.
| Issuer: | Catholic Health Initiatives
|
| Issue: | Series 2013A revenue bonds
|
| Amount: | $600.6 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead), BofA Merrill Lynch and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Oct. 24
|
| Settlement date: | Nov. 14
|
|
|
| $254,765,000 series 2013A Colorado Health Facilities Authority revenue bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $9,685,000 | 2033 | Term | 5% | 99.143 | 5.07%
|
| $46.64 million | 2040 | Term | 5.25% | 98.042 | 5.39%
|
| $198.44 million | 2045 | Term | 5.25% | 96.866 | 5.46%
|
|
|
| $205.09 million series 2013A Chattanooga Health, Educational and Housing Facility Board revenue bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $7.13 million | 2033 | Term | 5% | 99.143 | 5.07%
|
| $35,205,000 | 2040 | Term | 5.25% | 98.042 | 5.39%
|
| $162,755,000 | 2045 | Term | 5.25% | 97.011 | 5.45%
|
|
|
| $78,535,000 series 2013A Kentucky Economic Development Finance Authority revenue bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $14.91 million | 2040 | Term | 5.375% | 99.784 | 5.39%
|
| $63,625,000 | 2045 | Term | 5.25% | 96.866 | 5.46%
|
|
|
| $62.21 million series 2013A Washington Health Care Facilities Authority revenue bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $8.14 million | 2040 | Term | 5.25% | 98.042 | 5.39%
|
| $3.65 million | 2040 | Term | 5.375% | 99.784 | 5.39%
|
| $50.42 million | 2045 | Term | 5.75% | 103.143 | 5.31%
|
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