By Sheri Kasprzak
New York, Jan. 12 - The ABAG Finance Authority for Nonprofit Corporations sold $77.71 million of series 2011A revenue bonds for Sharp Healthcare Wednesday, according to a pricing sheet.
The bonds (A2/A/) were sold through Citigroup Global Markets Inc. and are due from 2014 to 2024 with a term bond due 2030. The serial coupons range from 3.5% to 5.25%. The 2030 bonds have a 6% coupon priced at 98.587.
Proceeds will be used to redeem all of the corporation's outstanding series 2001A bonds and prepay a portion of the principal on its series 1998 obligations.
Based in Oakland, Calif., the authority assists California nonprofit organizations in the Bay Area with gaining access to tax-exempt funding. Sharp HealthCare is based in San Diego.
| Issuer: | ABAG Finance Authority for Nonprofit Corporations/Sharp Healthcare
|
| Issue: | Series 2011A revenue bonds
|
| Amount: | $77.71 million
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | Jan. 12
|
| Settlement date: | Feb. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.985 million | 2014 | Serial | 3.5% | 102.368
|
| $4.655 million | 2015 | Serial | 4% | 103.141
|
| $4.765 million | 2016 | Serial | 5% | 107.259
|
| $5.065 million | 2017 | Serial | 5% | 106.888
|
| $5.345 million | 2018 | Serial | 5% | 105.413
|
| $160,000 | 2019 | Serial | 4.375% | 99.543
|
| $245,000 | 2020 | Serial | 4.625% | 99.279
|
| $3.435 million | 2022 | Serial | 5% | 98.71
|
| $3.99 million | 2023 | Serial | 5.25% | 99.366
|
| $4.4 million | 2024 | Serial | 5.25% | 97.826
|
| $42.665 million | 2030 | Term | 6% | 98.587
|
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