By Sheri Kasprzak
New York, Dec. 18 - The Hospital Facility Authority of Deschutes County in Oregon priced $97.615 million in series 2008 hospital revenue refunding bonds for Cascade Healthcare Community on Thursday, according to a pricing sheet released by a sellside source.
The bonds (A3) are due 2013 to 2018 with term bonds due 2023, 2028 and 2038. The coupons on the serials range from 5.5% to 7.25%. The yields for the serials were not immediately available on Thursday afternoon.
The 2023 bonds have a 7.375% coupon to yield 7.5%, the 2028 bonds have an 8% coupon to yield 8.25% and the 2038s have an 8.25% coupon to yield 8.5%.
Morgan Stanley & Co. Inc. was the lead manager for the negotiated sale.
Proceeds will be used to refund, redeem or defease Cascade Healthcare's series 2005A hospital revenue bonds and to pay fees associated with an interest rate swap termination.
| Issuer: | Hospital Facility Authority of Deschutes County, Ore./Cascade Healthcare Community
|
| Issue: | Series 2008 hospital revenue refunding bonds
|
| Amount: | $97.615 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Rating: | Moody's: A3
|
| Pricing date: | Dec. 18
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2013 | Serial | 5.5%
|
| 2014 | Serial | 5.25%
|
| 2015 | Serial | 5.5%
|
| 2016 | Serial | 6%
|
| 2017 | Serial | 6.375%
|
| 2018 | Serial | 7.25%
|
| 2023 | Term | 7.375% | 7.50%
|
| 2028 | Term | 8% | 8.25%
|
| 2038 | Term | 8.25% | 8.50%
|
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