Published on 9/16/2014 in the Prospect News Municipals Daily.
New Issue: Cleveland Clinic Foundation, Ohio, brings $400 million of taxable bonds
By Sheri Kasprzak
New York, Sept. 16 – The Cleveland Clinic Foundation of Ohio sold $400 million of series 2014 taxable bonds, according to an official statement.
The bonds (Aa2/AA-/) were sold through senior managers Barclays and J.P. Morgan Securities LLC.
The bonds are due Jan. 1, 2114 and bear interest at 4.858% priced at par.
Proceeds will be used for authorized corporate purposes of the health system.
Issuer: | Cleveland Clinic Foundation
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Issue: | Series 2014 taxable bonds
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Amount: | $400 million
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Maturity: | Jan. 1, 2114
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Coupon: | 4.858%
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Price: | 100
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Type: | Negotiated
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Underwriters: | Barclays and J.P. Morgan Securities LLC (lead), PNC Capital Markets LLC, BofA Merrill Lynch and Wells Fargo Securities LLC (co-managers)
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Ratings: | Moody’s: Aa2
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| Standard & Poor’s: AA-
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Pricing date: | Sept. 11
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Settlement date: | Sept. 18
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