Published on 11/6/2015 in the Prospect News Municipals Daily.
New Issue: California Health Facilities sells $370.22 million Cedars-Sinai bonds
By Sheri Kasprzak
New York, Nov. 6 – The California Health Facilities Financing Authority sold $370.22 million of series 2015 refunding revenue bonds for the Cedars-Sinai Medical Center, according to a pricing sheet. The deal was downsized from $400 million.
The bonds (Aa3//AA-) were sold through Barclays.
The bonds are due 2016 to 2034 with 2% to 5% coupons and yields from 0.28% to 3.68%.
Proceeds will be used to refund the authority’s series 2005 revenue bonds.
| Issuer: | California Health Facilities Financing Authority/Cedars-Sinai Medical Center
|
| Issue: | Series 2015 refunding revenue bonds
|
| Amount: | $370.22 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays
|
| Ratings: | Moody’s: Aa3
|
| Fitch: AA-
|
| Pricing date: | Nov. 6
|
| Settlement date: | Nov. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $480,000 | 2016 | Serial | 2% | 101.706 | 0.28%
|
| $1.62 million | 2017 | Serial | 3% | 104.73 | 0.61%
|
| $2,015,000 | 2020 | Serial | 2% | 103.374 | 1.30%
|
| $4,605,000 | 2020 | Serial | 5% | 117.836 | 1.30%
|
| $1.37 million | 2021 | Serial | 3% | 108.329 | 1.54%
|
| $5.54 million | 2021 | Serial | 5% | 119.739 | 1.54%
|
| $635,000 | 2022 | Serial | 3% | 107.921 | 1.79%
|
| $27.46 million | 2022 | Serial | 5% | 121.015 | 1.79%
|
| $1,465,000 | 2023 | Serial | 3% | 107.201 | 2.02%
|
| $28,045,000 | 2023 | Serial | 5% | 121.897 | 2.02%
|
| $3.6 million | 2024 | Serial | 3% | 106.327 | 2.22%
|
| $27,375,000 | 2024 | Serial | 5% | 122.553 | 2.22%
|
| $1.8 million | 2025 | Serial | 3% | 105.394 | 2.39%
|
| $30,705,000 | 2025 | Serial | 5% | 123.081 | 2.39%
|
| $34,155,000 | 2026 | Serial | 5% | 121.494 | 2.55%
|
| $35.9 million | 2027 | Serial | 5% | 120.126 | 2.69%
|
| $37.75 million | 2028 | Serial | 5% | 119.063 | 2.80%
|
| $39.68 million | 2029 | Serial | 5% | 118.297 | 2.88%
|
| $6.24 million | 2030 | Serial | 3.125% | 97.364 | 3.35%
|
| $35.42 million | 2030 | Serial | 5% | 117.537 | 2.96%
|
| $2 million | 2031 | Serial | 4% | 107.505 | 3.12%
|
| $11,085,000 | 2031 | Serial | 5% | 116.971 | 3.02%
|
| $11,465,000 | 2032 | Serial | 5% | 116.409 | 3.08%
|
| $10.91 million | 2033 | Serial | 5% | 116.128 | 3.11%
|
| $8.9 million | 2034 | Serial | 3.5% | 97.555 | 3.68%
|
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