Published on 5/9/2012 in the Prospect News Municipals Daily.
New Issue: Charlotte-Mecklenburg Hospital Authority, N.C., prices $155.09 million Carolinas bonds
By Sheri Kasprzak
New York, May 9 - The Charlotte-Mecklenburg Hospital Authority of North Carolina sold $155,085,000 of series 2012A health care revenue and refunding revenue bonds for Carolinas Health Care 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-manager was Wells Fargo Securities LLC.
The bonds are due 2014 to 2032 with term bonds due in 2035, 2038 and 2043. The serial coupons range from 2% to 5%. The 2035 bonds have a 4% coupon priced at 112.989, and the 2038 bonds have a 4% coupon priced at 99.202. The 2043 bonds have a 5% coupon priced at 100.962.
Proceeds will be used to repay tax-exempt bonds issued by the North Carolina Medical Care Commission, finance additions and improvements to the health care system's hospitals and refund the authority's series 2001A bonds.
| Issuer: | Charlotte-Mecklenburg Hospital Authority/Carolinas Health Care System
|
| Issue: | Series 2012A health care revenue and refunding revenue bonds
|
| Amount: | $155,085,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and J.P. Morgan Securities LLC (lead), Wells Fargo Securities LLC (co-manager)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | May 9
|
| Settlement date: | May 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $950,000 | 2014 | Serial | 2% | 102.662
|
| $1,355,000 | 2015 | Serial | 3% | 105.971
|
| $1.41 million | 2016 | Serial | 4% | 110.909
|
| $1.47 million | 2017 | Serial | 5% | 117.025
|
| $1.52 million | 2018 | Serial | 2% | 102.593
|
| $1.56 million | 2019 | Serial | 4% | 114.154
|
| $1.63 million | 2020 | Serial | 5% | 121.208
|
| $450,000 | 2021 | Serial | 3% | 105.386
|
| $1,175,000 | 2021 | Serial | 5% | 121.003
|
| $1,605,000 | 2022 | Serial | 4% | 112.801
|
| $1.58 million | 2023 | Serial | 5% | 119.816
|
| $15,000 | 2024 | Serial | 3% | 101.765
|
| $1.54 million | 2024 | Serial | 5% | 118.598
|
| $1,515,000 | 2025 | Serial | 4% | 109.119
|
| $1.46 million | 2026 | Serial | 3% | 99.331
|
| $17,045,000 | 2027 | Serial | 5% | 115.753
|
| $17.92 million | 2028 | Serial | 5% | 114.853
|
| $18.84 million | 2029 | Serial | 5% | 114.049
|
| $19,805,000 | 2030 | Serial | 5% | 113.518
|
| $20.82 million | 2031 | Serial | 5% | 112.989
|
| $1.36 million | 2032 | Serial | 3.5% | 98.318
|
| $4,405,000 | 2035 | Term | 4% | 100.394
|
| $4.97 million | 2038 | Term | 4% | 99.202
|
| $30,685,000 | 2043 | Term | 5% | 109.962
|
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