Published on 6/29/2012 in the Prospect News Municipals Daily.
New Issue: Kaweah Delta Health Care, Calif., prices $75.8 million of revenue bonds
By Sheri Kasprzak
New York, June 29 - The Kaweah Delta Health Care District of California sold $75.8 million of series 2012 revenue and refunding bonds, said a pricing sheet.
The bonds (A3) were sold through Edward D. Jones & Co. LP and Wells Fargo Securities LLC. The co-managers were Bank of America Merrill Lynch, Southwest Securities Inc. and Raymond James/Morgan Keegan.
The bonds are due 2013 to 2035 with term bonds due in 2037 and 2042. The serial coupons range from 2% to 5%. The 2037 bonds have a 4.6% coupon priced at par, and the 2042 bonds have a 4.65% coupon priced at par.
Proceeds will be used to construct, equip, acquire and renovate health care facilities operated by the district as well as to refund its series 1999A, 2003B and 2004 revenue bonds.
| Issuer: | Kaweah Delta Health Care District, Calif.
|
| Issue: | Series 2012 revenue and refunding bonds
|
| Amount: | $75.8 million
|
| Type: | Negotiated
|
| Underwriters: | Edward D. Jones & Co. LP and Wells Fargo Securities LLC (lead), Bank of America Merrill Lynch, Southwest Securities Inc. and Raymond James/Morgan Keegan (co-managers)
|
| Ratings: | Moody's: A3
|
| Pricing date: | June 28
|
| Settlement date: | July 17
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $575,000 | 2013 | Serial | 2% | 100.909
|
| $2.28 million | 2014 | Serial | 4% | 104.938
|
| $2,875,000 | 2015 | Serial | 4% | 106.651
|
| $2.99 million | 2016 | Serial | 4% | 107.918
|
| $3.11 million | 2017 | Serial | 5% | 112.916
|
| $3,255,000 | 2018 | Serial | 5% | 113.28
|
| $3,415,000 | 2019 | Serial | 5% | 113.462
|
| $3,585,000 | 2020 | Serial | 5% | 113.029
|
| $3,755,000 | 2021 | Serial | 5% | 112.406
|
| $3.95 million | 2022 | Serial | 5% | 112.337
|
| $4,145,000 | 2023 | Serial | 3.6% | 100
|
| $4,285,000 | 2024 | Serial | 3.7% | 100
|
| $4.44 million | 2025 | Serial | 3.8% | 100
|
| $4,605,000 | 2026 | Serial | 3.9% | 100
|
| $4,775,000 | 2027 | Serial | 4% | 100
|
| $4.96 million | 2028 | Serial | 4.1% | 100
|
| $5.16 million | 2029 | Serial | 4.2% | 100
|
| $855,000 | 2030 | Serial | 4.25% | 100
|
| $890,000 | 2031 | Serial | 4.3% | 100
|
| $930,000 | 2032 | Serial | 4.35% | 100
|
| $965,000 | 2033 | Serial | 4.4% | 100
|
| $925,000 | 2034 | Serial | 4.45% | 100
|
| $965,000 | 2035 | Serial | 4.5% | 100
|
| $2,065,000 | 2037 | Term | 4.6% | 100
|
| $6,045,000 | 2042 | Term | 4.65% | 100
|
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