Published on 6/9/2016 in the Prospect News Municipals Daily.
New Issue: Dauphin County General Authority, Pa., prices $105.2 million revenue bonds
By Sheri Kasprzak
New York, June 9 – The Dauphin County General Authority of Pennsylvania sold $105,195,000 of series 2016A health system revenue bonds for the Pinnacle Health System, according to a pricing sheet.
The bonds (A2/A+) were sold through Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.
The bonds are due 2017 to 2036 with 3% to 5% coupons and yields from 0.83% to 2.95%.
Proceeds will be used to refund the health system’s series 2009A revenue bonds.
| Issuer: | Dauphin County General Authority/Pinnacle Health System
|
| Issue: | Series 2016A health system revenue bonds
|
| Amount: | $105,195,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
|
| Ratings: | Moody’s: A2
|
| S&P: A+
|
| Pricing date: | June 2
|
| Settlement date: | June 22
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4.32 million | 2017 | Serial | 3% | 102.03 | 0.83%
|
| $4.18 million | 2018 | Serial | 4% | 105.654 | 1.05%
|
| $2,765,000 | 2019 | Serial | 4% | 108.038 | 1.21%
|
| $2.88 million | 2020 | Serial | 5% | 113.964 | 1.35%
|
| $2.43 million | 2021 | Serial | 5% | 116.557 | 1.51%
|
| $2,555,000 | 2022 | Serial | 5% | 118.698 | 1.68%
|
| $2.68 million | 2023 | Serial | 5% | 120.503 | 1.84%
|
| $2,815,000 | 2024 | Serial | 5% | 122.009 | 1.99%
|
| $2,955,000 | 2025 | Serial | 5% | 123.253 | 2.13%
|
| $3,105,000 | 2026 | Serial | 5% | 124.072 | 2.28%
|
| $3.26 million | 2027 | Serial | 5% | 122.278 | 2.46%
|
| $3.42 million | 2028 | Serial | 5% | 121.295 | 2.56%
|
| $8,825,000 | 2029 | Serial | 5% | 120.807 | 2.61%
|
| $9,195,000 | 2030 | Serial | 4% | 108.45 | 3.01%
|
| $9,565,000 | 2031 | Serial | 4% | 108.092 | 3.05%
|
| $9.27 million | 2032 | Serial | 4% | 107.825 | 3.08%
|
| $8,575,000 | 2033 | Serial | 3% | 97.143 | 3.22%
|
| $9,235,000 | 2034 | Serial | 5% | 118.497 | 2.85%
|
| $9,855,000 | 2035 | Serial | 5% | 118.023 | 2.90%
|
| $3.31 million | 2036 | Serial | 5% | 117.55 | 2.95%
|
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