By Sheri Kasprzak
New York, Sept. 26 - The Duluth Economic Development Authority of Minnesota priced $81,595,000 of series 2012 health care facilities revenue bonds for St. Luke's Hospital of Duluth Obligated Group, according to a term sheet.
The bonds were sold through Ziegler Capital Markets Inc.
The bonds are due 2013 to 2014 with term bonds due in 2022, 2027, 2032 and 2039.
The serial bonds have 4% coupons.
The 2022 bonds have a 4.75% coupon priced at par; the 2027 bonds have a split maturity with a 5.125% coupon priced at 97.475 and a 5.75% coupon priced at 103.748; the 2032 bonds have a 5.75% coupon priced at 102.603 and the 2039 bonds have a 6% coupon priced at 102.572.
Proceeds will be used to construct improvements and equip St. Luke's facilities, as well as to current refund the authority's series 2002 revenue bonds.
| Issuer: | Duluth Economic Development Authority/St. Luke's Hospital of Duluth Obligated Group
|
| Issue: | Series 2012 health care facilities revenue bonds
|
| Amount: | $81,595,000
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Markets Inc.
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.46 million | 2013 | Serial | 4% | 101.206
|
| $1.52 million | 2014 | Serial | 4% | 102.45
|
| $15.09 million | 2022 | Term | 4.75% | 100
|
| $3.5 million | 2027 | Term | 5.125% | 97.475
|
| $3 million | 2027 | Term | 5.75% | 103.748
|
| $23,955,000 | 2032 | Term | 5.75% | 102.603
|
| $33.07 million | 2039 | Term | 6% | 102.572
|
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