Published on 5/3/2016 in the Prospect News Municipals Daily.
New Issue: Harris County Cultural, Texas, prices $142.66 million of Baylor bonds
By Sheri Kasprzak
New York, May 3 – The Harris County Cultural Education Facilities Finance Corp. of Texas sold $142.66 million of series 2016 medical facilities mortgage revenue refunding bonds for Baylor College of Medicine, according to a pricing sheet. The deal was upsized from $139.92 million.
The bonds (/A/) were sold through BofA Merrill Lynch and Barclays.
The bonds are due 2018 to 2032 with 3% to 5% coupons and yields from 0.94% to 3.236%.
Proceeds will be used to refund the corporation’s series 2008D revenue bonds.
| Issuer: | Harris County Cultural Education Facilities Finance Corp./Baylor College of Medicine
|
| Issue: | Series 2016 medical facilities mortgage revenue refunding bonds
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| Amount: | $142.66 million
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| Type: | Negotiated
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| Underwriters: | BofA Merrill Lynch and Barclays (lead)
|
| Rating: | Standard & Poor’s: A
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| Pricing date: | April 27
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| Settlement date: | May 11
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6.63 million | 2018 | Serial | 5% | 110.052 | 0.94%
|
| $6.99 million | 2019 | Serial | 5% | 113.359 | 1.11%
|
| $7,275,000 | 2020 | Serial | 5% | 116.112 | 1.31%
|
| $7,545,000 | 2021 | Serial | 5% | 118.621 | 1.47%
|
| $7.71 million | 2022 | Serial | 5% | 120.6 | 1.65%
|
| $8,085,000 | 2023 | Serial | 5% | 122.073 | 1.84%
|
| $8.36 million | 2024 | Serial | 5% | 123.371 | 2.00%
|
| $8.76 million | 2025 | Serial | 5% | 124.591 | 2.13%
|
| $9.1 million | 2026 | Serial | 5% | 124.527 | 2.25%
|
| $9,395,000 | 2027 | Serial | 5% | 125.328 | 2.46%
|
| $9,695,000 | 2028 | Serial | 4% | 111.151 | 2.72%
|
| $13,485,000 | 2029 | Serial | 4% | 109.863 | 2.86%
|
| $7,425,000 | 2030 | Serial | 3% | 98.953 | 3.09%
|
| $6,525,000 | 2030 | Serial | 4% | 109.225 | 2.93%
|
| $14,375,000 | 2031 | Serial | 3% | 98.291 | 3.14%
|
| $11,305,000 | 2032 | Serial | 3% | 97 | 3.236%
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