Published on 2/27/2014 in the Prospect News Municipals Daily.
New Issue: Sumter County IDA prices $50 million of Central Florida Health bonds
By Sheri Kasprzak
New York, Feb. 27 - The Sumter County Industrial Development Authority of Florida priced $50 million of series 2014A hospital revenue bonds for the Central Florida Health Alliance, according to a pricing sheet.
The bonds (Baa1/BBB+/) were sold through senior manager PNC Capital Markets LLC.
The bonds are due 2014 to 2029 with term bonds due in 2034 and 2044. The serial coupons range from 2% to 5% with yields from 0.85% to 4.86%. The 2034 bonds have a 5.125% coupon priced at 99.679 to yield 5.15%, and the 2044 bonds have a 5.25% coupon priced at 97.475 to yield 5.42%.
Proceeds will be used to reimburse the Villages Regional Hospital of the Villages, Fla., for capital improvements to the hospital's facilities.
| Issuer: | Sumter County Industrial Development Authority/Central Florida Health Alliance
|
| Issue: | Series 2014A hospital revenue bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriter: | PNC Capital Markets LLC
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 11
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $235,000 | 2014 | Serial | 2% | 100.349 | 0.85%
|
| $770,000 | 2015 | Serial | 3% | 102.428 | 1.12%
|
| $795,000 | 2016 | Serial | 4% | 105.829 | 1.42%
|
| $825,000 | 2017 | Serial | 4% | 107.027 | 1.80%
|
| $860,000 | 2018 | Serial | 5% | 111.439 | 2.20%
|
| $900,000 | 2019 | Serial | 5% | 111.818 | 2.60%
|
| $945,000 | 2020 | Serial | 5% | 110.681 | 3.12%
|
| $995,000 | 2021 | Serial | 5% | 109.253 | 3.55%
|
| $1,045,000 | 2022 | Serial | 5% | 108.103 | 3.85%
|
| $1,095,000 | 2023 | Serial | 5% | 106.818 | 4.11%
|
| $1.15 million | 2024 | Serial | 5% | 105.628 | 4.29%
|
| $1,205,000 | 2025 | Serial | 5% | 104.568 | 4.42%
|
| $1.27 million | 2026 | Serial | 5% | 103.601 | 4.54%
|
| $1.33 million | 2027 | Serial | 5% | 102.644 | 4.66%
|
| $1.4 million | 2028 | Serial | 5% | 101.934 | 4.75%
|
| $1.47 million | 2029 | Serial | 5% | 101.074 | 4.86%
|
| $8,535,000 | 2034 | Term | 5.125% | 99.679 | 5.15%
|
| $25,175,000 | 2044 | Term | 5.25% | 97.475 | 5.42%
|
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