By Sheri Kasprzak
New York, Jan. 28 - The City of Fargo, N.D., sold $132.66 million of series 2011 health system revenue bonds, according to an official statement released Friday.
The bonds (A1/AA-/) were sold through Cain Brothers.
The bonds are due 2011 to 2021 with term bonds due 2028 and 2031. Serial coupons range from 3.5% to 5.5%. Yields range from 1.5% to 5.15%. The 2028 bonds have a 6% coupon to yield 6.1%, and the 2031 bonds have a 6.25% coupon to yield 6.35%.
Proceeds will be used to refund Sanford Health's series 1996A, 2000A and 2002A bonds.
| Issuer: | Fargo, N.D./Sanford Health
|
| Issue: | Series 2011 health system revenue bonds
|
| Amount: | $132.66 million
|
| Type: | Negotiated
|
| Underwriter: | Cain Brothers
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Pricing date: | Jan. 20
|
| Settlement date: | Feb. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3 million | 2011 | Serial | 4% | 101.800 | 1.50%
|
| $5.11 million | 2012 | Serial | 4% | 103.377 | 2.00%
|
| $5.32 million | 2013 | Serial | 4% | 103.928 | 2.50%
|
| $5.535 million | 2014 | Serial | 4% | 103.498 | 3.00%
|
| $5.765 million | 2015 | Serial | 4% | 102.595 | 3.40%
|
| $4.005 million | 2016 | Serial | 3.5% | 98.718 | 3.75%
|
| $2 million | 2016 | Serial | 5.5% | 108.938 | 3.75%
|
| $2.285 million | 2017 | Serial | 4% | 99.122 | 4.15%
|
| $4 million | 2017 | Serial | 5.5% | 107.847 | 4.15%
|
| $6.615 million | 2018 | Serial | 5.25% | 105.175 | 4.45%
|
| $6.97 million | 2019 | Serial | 5.25% | 103.530 | 4.75%
|
| $7.355 million | 2020 | Serial | 5.5% | 103.806 | 5.00%
|
| $2.765 million | 2021 | Serial | 5% | 98.767 | 5.15%
|
| $5 million | 2021 | Serial | 5.5% | 102.248 | 5.15%
|
| $10 million | 2028 | Term | 6% | 98.914 | 6.10%
|
| $56.935 million | 2031 | Term | 6.25% | 98.844 | 6.35%
|
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