Published on 8/20/2015 in the Prospect News Municipals Daily.
New Issue: District of Columbia prices $373.96 million Children’s Hospital bonds
By Sheri Kasprzak
New York, Aug. 20 – The District of Columbia sold $373.96 million of series 2015 hospital refunding revenue bonds for Children’s Hospital, according to a pricing sheet.
The bonds (A1//A+) were sold through Goldman, Sachs & Co.
The bonds are due 2016 to 2035 with term bonds due in 2040 and 2044. The serial bonds have 5% coupons and 0.40% to 3.69% yields. The 2040 bonds have a 4% coupon priced at 97.988 to yield 4.13% and a 5% coupon priced at 109.987 to yield 3.82%. The 2044 bonds have a 5% coupon priced at 109.45 to yield 3.88%.
Proceeds will be used to refund outstanding Children’s Hospital revenue bonds.
| Issuer: | District of Columbia/Children’s Hospital
|
| Issue: | Series 2015 hospital refunding revenue bonds
|
| Amount: | $373.96 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), BofA Merrill Lynch and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Aug. 14
|
| Settlement date: | Sept. 17
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6.48 million | 2016 | Serial | 5% | 103.797 | 0.40%
|
| $3.2 million | 2017 | Serial | 5% | 107.376 | 0.92%
|
| $3.25 million | 2018 | Serial | 5% | 110.532 | 1.20%
|
| $3,295,000 | 2019 | Serial | 5% | 113.13 | 1.46%
|
| $7,505,000 | 2020 | Serial | 5% | 114.98 | 1.75%
|
| $7.88 million | 2021 | Serial | 5% | 116.064 | 2.06%
|
| $8,275,000 | 2022 | Serial | 5% | 116.692 | 2.34%
|
| $8,755,000 | 2023 | Serial | 5% | 117.359 | 2.54%
|
| $9.2 million | 2024 | Serial | 5% | 118.04 | 2.69%
|
| $9.66 million | 2025 | Serial | 5% | 118.594 | 2.82%
|
| $10.14 million | 2026 | Serial | 5% | 117.839 | 2.98%
|
| $10.65 million | 2027 | Serial | 5% | 116.485 | 3.12%
|
| $11.18 million | 2028 | Serial | 5% | 115.434 | 3.23%
|
| $11.74 million | 2029 | Serial | 5% | 114.488 | 3.33%
|
| $12.32 million | 2030 | Serial | 5% | 113.738 | 3.41%
|
| $12.94 million | 2031 | Serial | 5% | 112.902 | 3.50%
|
| $13,585,000 | 2032 | Serial | 5% | 112.348 | 3.56%
|
| $14,265,000 | 2033 | Serial | 5% | 111.889 | 3.61%
|
| $14.98 million | 2034 | Serial | 5% | 111.524 | 3.65%
|
| $15.73 million | 2035 | Serial | 5% | 111.16 | 3.69%
|
| $40,315,000 | 2040 | Term | 4% | 97.988 | 4.13%
|
| $50 million | 2040 | Term | 5% | 109.987 | 3.82%
|
| $88,615,000 | 2044 | Term | 5% | 109.45 | 3.88%
|
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