By Sheri Kasprzak
New York, Oct. 6 - The California Health Facilities Financing Authority sold $535 million in series 2009 revenue bonds for the Cedars-Sinai Medical Center on Tuesday, according to a term sheet.
The bonds (A2//A+) were sold through lead managers Merrill Lynch & Co. Inc. and Goldman, Sachs & Co.
The bonds are due 2010 to 2024 with term bonds due 2029, 2034 and 2039. The coupons on the serial bonds range from 3% to 4.25%. The 2029 bonds have a 4.625% coupon, priced at 98.652, and the 2034 bonds have a 5% coupon, priced at par. The 2039 bonds have a 5% coupon, priced at 99.226.
Proceeds will be used to construct, equip and renovate health facilities operated by Cedars-Sinai.
Cedars-Sinai Medical Center is based in Los Angeles.
| Issuer: | California Health Facilities Financing Authority/Cedars-Sinai Medical Center
|
| Issue: | Series 2009 revenue bonds
|
| Amount: | $535 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch & Co. Inc. and Goldman, Sachs & Co.
|
| Ratings: | Moody's: A2
|
| Fitch: A+
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 21
|
|
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 3% | 101.638
|
| 2011 | Serial | 3% | 102.242
|
| 2011 | Serial | 5% | 105.802
|
| 2012 | Serial | 3% | 102.226
|
| 2012 | Serial | 5% | 107.660
|
| 2013 | Serial | 3% | 101.770
|
| 2013 | Serial | 5% | 109.005
|
| 2014 | Serial | 4% | 105.046
|
| 2014 | Serial | 5% | 109.514
|
| 2015 | Serial | 4% | 104.373
|
| 2015 | Serial | 5% | 109.646
|
| 2016 | Serial | 3.5% | 100.600
|
| 2016 | Serial | 5% | 109.657
|
| 2017 | Serial | 4% | 102.562
|
| 2017 | Serial | 5% | 109.317
|
| 2018 | Serial | 4% | 101.557
|
| 2018 | Serial | 5% | 108.991
|
| 2019 | Serial | 4% | 100.642
|
| 2019 | Serial | 5% | 108.724
|
| 2020 | Serial | 4% | 99.821
|
| 2021 | Serial | 4.125% | NRO
|
| 2022 | Serial | 4.25% | NRO
|
| 2023 | Serial | 4.125% | 98.390
|
| 2024 | Serial | 4.25% | 98.910
|
| 2029 | Term | 4.625% | 98.652
|
| 2034 | Term | 5% | 100.000
|
| 2039 | Term | 5% | 99.226
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
