By Cristal Cody
Springdale, Ark., June 5 - The Carolinas HealthCare System, legally known as the Charlotte-Mecklenburg Hospital Authority, priced $310.5 million refunding revenue bonds with a 5.106% true interest cost on Thursday, the issuer told Prospect News.
The series 2008A bonds (Aa3/AA-/) priced with 3% to 5% coupons to yield 2.87% to 4.95% on the serial maturities from 2010 through 2028, said Mark Keener, treasurer.
The term bonds in 2032, 2039 and 2047 priced with 5% coupons to yield 5.03% to 5.22%.
Citigroup Global Markets was the senior manager of the negotiated sale. Co-managers were Banc of America Securities LLC and Wachovia Bank, NA.
Proceeds will be used to refund the series 1996 variable-rate bonds and series 2003B, 2005E and 2007I auction-rate bonds.
| Issuer: | Carolinas HealthCare System/Charlotte-Mecklenburg Hospital Authority
|
| Issue: | Refunding revenue bonds
|
| Amount: | $310.5 million
|
| True interest cost: | 5.106%
|
| Coupons: | 3%-5% serials; 5% terms
|
| Yields: | 2.87%-4.95% serials; 5.03%-5.22% terms
|
| Underwriter: | Citigroup Global Markets (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | June 5
|
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