By Sheri Kasprzak
New York, Feb. 24 – The Gregg County Health Facilities Development Corp. of Texas sold $88 million of series 2015A hospital revenue refunding bonds for Good Shepherd Health System Obligated Group, according to a limited offering memorandum.
The bonds are due Oct. 1, 2029 and bear interest at Libor plus 390 basis points subject to an 18% cap.
The bonds (Ba3/SG/) were offered through J.P. Morgan Securities LLC.
Proceeds will be used to refund the corporation’s series 2012A-B hospital revenue bonds.
Issuer: | Gregg County Health Facilities Development Corp./Good Shepherd Health System Obligated Group, Texas
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Issue: | Series 2015A hospital revenue refunding bonds
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Amount: | $88 million
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Maturity: | Oct. 1, 2029
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Coupon: | Libor plus 390 bps (18% cap)
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Underwriter: | J.P. Morgan Securities LLC
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Ratings: | Moody’s: Ba3
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| Standard & Poor’s: SG
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Pricing date: | Feb. 23
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Settlement date: | Feb. 26
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