Published on 4/30/2013 in the Prospect News Municipals Daily.
New Issue: Children's Hospital Medical, Ohio, offers $97.44 million of 2013 bonds
By Sheri Kasprzak
New York, April 30 - The Akron, Bath and Copley Joint Township Hospital District of Ohio sold $97,435,000 of series 2013 hospital improvement revenue bonds for the Children's Hospital Medical Center of Akron, according to a pricing sheet.
The bonds (A1//A+) were sold through senior manager Goldman, Sachs & Co.
The bonds are due Nov. 15, 2038 and Nov. 15, 2043. The 2038 bonds have a 5% coupon priced at 110.607 and the 2043 bonds have a 4% coupon priced at 97.587.
Proceeds will be used to construct, equip, acquire and furnish a new critical care tower at the medical center.
| Issuer: | Akron, Bath and Copley Joint Township Hospital District/Children's Hospital Medical Center of Akron
|
| Issue: | Series 2013 hospital improvement revenue bonds
|
| Amount: | $97,435,000
|
| Type: | Negotiated
|
| Underwriter: | Goldman, Sachs & Co. (lead)
|
| Ratings: | Moody's: A1
|
| Fitch: A+
|
| Pricing date: | April 30
|
| Settlement date: | May 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $49,065,000 | Nov. 15, 2038 | Term | 5% | 110.607
|
| $48.37 million | Nov. 15, 2043 | Term | 4% | 97.587
|
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