Published on 6/15/2011 in the Prospect News Municipals Daily.
New Issue: Washington Health sells $84.15 million for Fred Hutchinson center
By Sheri Kasprzak
New York, June 15 - The Washington Health Care Facilities Authority priced $84.15 million of series 2011A revenue bonds for the Fred Hutchinson Cancer Research Center, said a pricing sheet.
The bonds (A2/A/) were sold through J.P. Morgan Securities LLC with Bank of America Merrill Lynch and KeyBanc Capital Markets Inc. as the co-managers.
The bonds are due 2012 to 2023 with term bonds due in 2031 and 2035. The serial coupons range from 0.5% to 5%. The 2031 bonds have a split maturity with a 5.375% coupon priced at 97.35 and a 6% coupon priced at 102.916. The 2035 bonds have a 5.625% coupon priced at 97.769.
Proceeds will be used to refund the center's series 2001A and 2009B bonds.
The center is located in Seattle.
| Issuer: | Washington Health Care Facilities Authority/Fred Hutchinson Cancer Research Center
|
| Issue: | Series 2011A revenue bonds
|
| Amount: | $84.15 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Bank of America Merrill Lynch and KeyBanc Capital Markets Inc. (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | June 15
|
| Settlement date: | June 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $500,000 | 2012 | Serial | 0.5% | 100
|
| $755,000 | 2013 | Serial | 3% | 102.01
|
| $965,000 | 2014 | Serial | 5% | 107.009
|
| $940,000 | 2015 | Serial | 3% | 101.734
|
| $1.125 million | 2016 | Serial | 5% | 109.556
|
| $1.31 million | 2017 | Serial | 3% | 99.247
|
| $1.605 million | 2018 | Serial | 5% | 108.717
|
| $510,000 | 2019 | Serial | 4% | 101.36
|
| $785,000 | 2020 | Serial | 4% | 99.785
|
| $670,000 | 2021 | Serial | 4.125% | 99.339
|
| $750,000 | 2022 | Serial | 4.375% | 99.874
|
| $1.26 million | 2023 | Serial | 5% | 103.44
|
| $25.5 million | 2031 | Term | 5.375% | 97.35
|
| $4 million | 2031 | Term | 6% | 102.916
|
| $43.475 million | 2035 | Term | 5.625% | 97.769
|
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