Published on 6/12/2013 in the Prospect News Municipals Daily.
New Issue: Fairfield County, Ohio, sells $96.6 million Fairfield Medical bonds
By Sheri Kasprzak
New York, June 12 - Fairfield County, Ohio, sold $96.6 million of series 2013 hospital facilities revenue refunding and improvement bonds for the Fairfield Medical Center, according to a pricing sheet.
The bonds (Baa2) were sold through PNC Capital Markets LLC.
The bonds are due 2014 to 2028 with term bonds due in 2033 and 2043. The serial coupons range from 3% to 5%, and yields range from 0.91% to 4.47%. The 2033 bonds have a 5.125% coupon priced at 102.389 to yield 4.82%. The 2043 bonds have a split maturity with a 5% coupon priced at 97.273 to yield 5.18% and a 5.25% coupon priced at 101.002 to yield 5.12%.
Proceeds will be used to finance the construction, improvement, renovation and equipment of hospital facilities for Fairfield Medical, as well as to refund the medical center's series 2003 and 2010 revenue bonds.
| Issuer: | Fairfield County, Ohio/Fairfield Medical Center
|
| Issue: | Series 2013 hospital facilities revenue refunding and improvement bonds
|
| Amount: | $96.6 million
|
| Type: | Negotiated
|
| Underwriter: | PNC Capital Markets LLC
|
| Rating: | Moody's: Baa2
|
| Pricing date: | June 12
|
| Settlement date: | June 27
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,475,000 | 2014 | Serial | 3% | 102.006 | 0.91%
|
| $1.57 million | 2015 | Serial | 4% | 105.305 | 1.26%
|
| $1,635,000 | 2016 | Serial | 4% | 106.776 | 1.65%
|
| $1.7 million | 2017 | Serial | 4% | 107.471 | 2.03%
|
| $1,765,000 | 2018 | Serial | 5% | 112.054 | 2.41%
|
| $1,855,000 | 2019 | Serial | 5% | 111.952 | 2.81%
|
| $1,945,000 | 2020 | Serial | 5% | 111.821 | 3.1%
|
| $2,045,000 | 2021 | Serial | 5% | 110.862 | 3.43%
|
| $2,145,000 | 2022 | Serial | 5% | 109.922 | 3.69%
|
| $2,255,000 | 2023 | Serial | 5% | 109.356 | 3.86%
|
| $2,365,000 | 2024 | Serial | 4.25% | 101.707 | 4.04%
|
| $2,465,000 | 2025 | Serial | 5% | 106.963 | 4.14%
|
| $2.59 million | 2026 | Serial | 5% | 105.957 | 4.26%
|
| $2.72 million | 2027 | Serial | 5% | 104.879 | 4.39%
|
| $2,855,000 | 2028 | Serial | 5% | 104.223 | 4.47%
|
| $16,615,000 | 2033 | Term | 5.125% | 102.389 | 4.82%
|
| $33.6 million | 2043 | Term | 5% | 97.273 | 5.18%
|
| $15 million | 2043 | Term | 5.25% | 101.002 | 5.12%
|
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