Published on 3/16/2016 in the Prospect News Municipals Daily.
New Issue: Halifax Hospital Medical Center, Fla., sells $165.75 million of bonds
By Sheri Kasprzak
New York, March 16 – The Halifax Hospital Medical Center of Florida sold $165,745,000 of series 2016 hospital revenue refunding and improvement bonds, according to a pricing sheet. The deal was upsized from $160 million.
The bonds (/A-/BBB+) were sold through J.P. Morgan Securities LLC.
The bonds are due 2017 to 2031 with term bonds due in 2036, 2041 and 2046. The serial coupons range from 3% to 5% and yields from 0.9% to 3.52%. The 2036 bonds have a 5% coupon priced at 112.922 to yield 3.48%, and the 2041 bonds have a 3.75% coupon priced at 96.052 to yield 4%. The 2046 bonds have a 4% coupon priced at 99.129 to yield 4.05%.
Proceeds will be used to finance capital improvements to the medical center in Daytona Beach, Fla., as well as to refund the center’s series 2006A-B revenue bonds.
| Issuer: | Halifax Hospital Medical Center
|
| Issue: | Series 2016 hospital revenue refunding and improvement bonds
|
| Amount: | $165,745,000
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Standard & Poor’s: A-
|
| Fitch: BBB+
|
| Pricing date: | March 15
|
| Settlement date: | March 29
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,585,000 | 2017 | Serial | 3% | 102.442 | 0.90%
|
| $1.58 million | 2018 | Serial | 4% | 106.073 | 1.16%
|
| $1.16 million | 2019 | Serial | 5% | 111.328 | 1.34%
|
| $1,215,000 | 2020 | Serial | 5% | 113.84 | 1.56%
|
| $1,295,000 | 2021 | Serial | 5% | 115.787 | 1.79%
|
| $1,355,000 | 2022 | Serial | 5% | 117.525 | 1.97%
|
| $1,415,000 | 2023 | Serial | 5% | 118.408 | 2.21%
|
| $1,475,000 | 2024 | Serial | 5% | 118.778 | 2.45%
|
| $1.57 million | 2025 | Serial | 5% | 118.662 | 2.69%
|
| $1,635,000 | 2026 | Serial | 5% | 118.768 | 2.86%
|
| $6.15 million | 2027 | Serial | 5% | 117.801 | 2.96%
|
| $6,445,000 | 2028 | Serial | 5% | 116.749 | 3.07%
|
| $6,775,000 | 2029 | Serial | 5% | 115.99 | 3.15%
|
| $7,115,000 | 2030 | Serial | 5% | 115.425 | 3.21%
|
| $7.47 million | 2031 | Serial | 3.375% | 98.303 | 3.52%
|
| $42.68 million | 2036 | Term | 5% | 112.922 | 3.48%
|
| $39.55 million | 2041 | Term | 3.75% | 96.052 | 4.00%
|
| $35,275,000 | 2046 | Term | 4% | 99.129 | 4.05%
|
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