By Sheri Kasprzak
New York, May 12 - The Charlotte-Mecklenburg Hospital Authority of North Carolina brought $149.995 million of series 2011A health-care revenue bonds for the Carolinas Healthcare System, said a pricing sheet.
The bonds (Aa3/AA-/) were sold through Bank of America Merrill Lynch and J.P. Morgan Securities LLC. The co-managers were Citigroup Global Markets Inc. and Wells Fargo Securities LLC.
The bonds are due 2012 to 2021 with term bonds due in 2026, 2031, 2037 and 2042. Serial coupons range from 2.5% to 5%. The 2026 bonds have a 4.5% coupon, and the 2031 bonds have a 5% coupon. The 2037 bonds have a 5.125% coupon, and the 2042 bonds have a 5.25% coupon.
Proceeds will be used to construct, equip, renovate and acquire health-care facilities as part of the health-care system's five-year capital plan.
The hospital authority and health-care system are both based in Charlotte, N.C.
| Issuer: | Charlotte-Mecklenburg Hospital Authority/Carolinas Healthcare System
|
| Issue: | Series 2011A health-care revenue bonds
|
| Amount: | $149.995 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and J.P. Morgan Securities LLC (lead), Citigroup Global Markets Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | May 12
|
| Settlement date: | May 19
|
|
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 2.5%
|
| 2013 | Serial | 5%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 2.5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2018 | Serial | 3%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2026 | Term | 4.5%
|
| 2031 | Term | 5%
|
| 2037 | Term | 5.125%
|
| 2042 | Term | 5.25%
|
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