Published on 1/24/2014 in the Prospect News Municipals Daily.
New Issue: ABAG Finance, Calif., offers up $160 million of Sharp Healthcare bonds
By Sheri Kasprzak
New York, Jan. 24 - The ABAG Finance Authority for Nonprofit Corporations of California sold $160,005,000 of series 2014A revenue bonds for Sharp Healthcare, according to a pricing sheet.
The bonds (A1/AA-/) were sold through Goldman, Sachs & Co. and Citigroup Global Markets Inc.
The bonds are due 2016 to 2021 and 2031 to 2034 with a term bond due in 2043. The serial coupons range from 3% to 5%. The 2043 bonds have a 5% coupon priced at 102.193.
Proceeds will be used to finance or refinance the construction, acquisition, renovation, improvement and equipment of Sharp HealthCare facilities as well as to refund its series 2003C revenue bonds.
| Issuer: | ABAG Finance Authority for Nonprofit Corporations/Sharp Healthcare
|
| Issue: | Series 2014A revenue bonds
|
| Amount: | $160,005,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Citigroup Global Markets Inc.
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Pricing date: | Jan. 23
|
| Settlement date: | Feb. 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.05 million | 2016 | Serial | 3% | 106.127
|
| $1.9 million | 2017 | Serial | 4% | 110.927
|
| $1.35 million | 2018 | Serial | 5% | 116.535
|
| $2,395,000 | 2019 | Serial | 5% | 118.312
|
| $4,105,000 | 2020 | Serial | 5% | 118.119
|
| $7,565,000 | 2021 | Serial | 5% | 117.681
|
| $5,705,000 | 2031 | Serial | 5% | 105.396
|
| $5,785,000 | 2032 | Serial | 5% | 104.762
|
| $5.86 million | 2033 | Serial | 5% | 104.21
|
| $1,275,000 | 2034 | Serial | 4.5% | 100
|
| $4,645,000 | 2034 | Serial | 5% | 103.897
|
| $117.37 million 2043 | Term | 5% | 102.193
|
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