By Sheri Kasprzak
New York, Nov. 22 - The Allegheny County Hospital Development Authority brought to market $101.205 million of series 2011A hospital revenue bonds for the University of Pittsburgh Medical Center, according to a pricing sheet.
The bonds (Aa3/A+/AA-) were sold through RBC Capital Markets LLC.
The bonds are due 2012 to 2026 with a term bond due in 2031. The serial coupons range from 2% to 5%. The 2031 bonds have a 5% coupon priced at 102.188.
Proceeds will be used to fund ongoing capital needs for fiscal year 2012, to finance a line of credit draw used by the medical center to pay a portion of a Sept. 1, 2011 bullet principal payment associated with its series 2008A bonds issue, as well as to refund the medical center's series 1999A bonds.
| Issuer: | Allegheny County Hospital Development Authority/University of Pittsburgh Medical Center
|
| Issue: | Series 2011A hospital revenue bonds
|
| Amount: | $101.205 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.005 million | 2012 | Serial | 2% | 101.454
|
| $3.42 million | 2013 | Serial | 3% | 103.762
|
| $3.525million | 2014 | Serial | 3% | 104.493
|
| $3.63 million | 2015 | Serial | 4% | 108.237
|
| $3.775 million | 2016 | Serial | 5% | 113.419
|
| $3.965 million | 2017 | Serial | 5% | 114.032
|
| $4.165 million | 2018 | Serial | 5% | 113.905
|
| $4.37 million | 2019 | Serial | 5% | 112.433
|
| $4.725 million | 2021 | Serial | 5% | 111.917
|
| $4.965 million | 2022 | Serial | 5% | 110.902
|
| $5.21 million | 2023 | Serial | 5% | 108.783
|
| $5.47 million | 2024 | Serial | 5% | 107.508
|
| $5.745 million | 2025 | Serial | 5% | 106.501
|
| $6.03 million | 2026 | Serial | 4.125% | 98.5
|
| $34.705 million | 2031 | Term | 5% | 102.188
|
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