Published on 4/3/2014 in the Prospect News Municipals Daily.
New Issue: Hamilton County, Ohio, sells $79.08 million of UC Health revenue bonds
By Sheri Kasprzak
New York, April 3 - Hamilton County, Ohio, sold $79.08 million of series 2014 hospital facilities revenue bonds for UC Health, according to a pricing sheet.
The bonds (A3/A-/) were sold through RBC Capital Markets LLC.
The bonds are due 2015 to 2030 with a term bond due in 2044. The serial coupons range from 4% to 5% with 0.56% to 4.33% yields. The 2044 bonds have a 5% coupon priced at 100.763 to yield 4.9%.
Proceeds will be used to finance the acquisition of a parking garage at the hospital's University of Cincinnati Medical Center campus, the expansion of an emergency room facility at the campus and the refunding of the health system's series 2001C revenue bonds.
| Issuer: | Hamilton County, Ohio/UC Health
|
| Issue: | Series 2014 hospital facilities revenue bonds
|
| Amount: | $79.08 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC (lead)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Pricing date: | April 3
|
| Settlement date: | April 16
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,535,000 | 2015 | Serial | 4% | 102.712 | 0.56%
|
| $3,535,000 | 2016 | Serial | 4% | 105.606 | 0.84%
|
| $3.24 million | 2017 | Serial | 4% | 107.605 | 1.22%
|
| $4.31 million | 2018 | Serial | 4% | 108.677 | 1.63%
|
| $4,785,000 | 2019 | Serial | 5% | 113.346 | 2.06%
|
| $5,625,000 | 2020 | Serial | 5% | 113.167 | 2.54%
|
| $1,355,000 | 2021 | Serial | 5% | 112.463 | 2.96%
|
| $1.65 million | 2022 | Serial | 5% | 112.028 | 3.24%
|
| $1.94 million | 2023 | Serial | 5% | 111.422 | 3.48%
|
| $2.25 million | 2024 | Serial | 5% | 110.851 | 3.67%
|
| $2.59 million | 2025 | Serial | 5% | 109.472 | 3.83%
|
| $2.96 million | 2026 | Serial | 5% | 108.536 | 3.94%
|
| $3,355,000 | 2027 | Serial | 5% | 107.694 | 4.04%
|
| $3,785,000 | 2028 | Serial | 5% | 106.776 | 4.15%
|
| $4.25 million | 2029 | Serial | 5% | 106.032 | 4.24%
|
| $4.75 million | 2030 | Serial | 5% | 105.294 | 4.33%
|
| $25,165,000 | 2044 | Term | 5% | 100.763 | 4.90%
|
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