Published on 8/14/2012 in the Prospect News Municipals Daily.
New Issue: Erie County, Ohio, sells $59.89 million of refunding bonds for Firelands Regional
By Sheri Kasprzak
New York, Aug. 14 - Erie County, Ohio, sold $59.89 million of series 2012A hospital facilities revenue refunding bonds for Firelands Regional Medical Center, according to an official statement.
The bonds (/A-/) were sold through placement agent Bank of America Merrill Lynch.
The bonds are due Aug. 15, 2022 and Aug. 15, 2032. The 2022 bonds have a 5% coupon priced at 105.945 to yield 3.3%. The 2032 bonds have a 5.25% coupon priced at 103.953 to yield 4.1%.
Proceeds will be used to refund the medical center's series 2002 hospital facilities revenue bonds.
| Issuer: | Erie County, Ohio/Firelands Regional Medical Center
|
| Issue: | Series 2012A hospital facilities revenue refunding bonds
|
| Amount: | $59.89 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Standard & Poor's: A-
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $22.81 million | Aug. 15, 2022 | Term | 5% | 105.945 | 3.3%
|
| $37.08 million | Aug. 15, 2032 | Term | 5.25% | 103.953 | 4.1%
|
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