By Sheri Kasprzak
New York, April 3 - The Harris County Health Facilities Development Corp. in Texas priced $176.945 million in thermal utility revenue bonds on March 27, an official statement released Thursday said.
The serial bonds (Aa3/AA-/) are due from 2011 to 2028 with term bonds due 2032 and 2037.
The serial bonds have coupons ranging from 3.5% to 5% with yields from 2.74% to 5.12%. The 2032 bond has a 5% coupon and a 5.24% yield, and the 2037 bond has a 5.125% coupon and a 5.3% yield.
The bonds were sold on a negotiated basis through lead manager RBC Capital Markets. The co-managers are J.P. Morgan Securities Inc., Merrill Lynch and Siebert Brandford Shank & Co.
Proceeds from the sale will be used to construct first-phase projects in the Texas Medical Center Central Heating and Cooling Services Corp. master plan and fund capitalized interest.
| Issuer: | Harris County Health Facilities Development Corp.
|
| Issue: | Thermal utility revenue bonds
|
| Amount: | $176.945 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets (lead); J.P. Morgan Securities Inc., Merrill Lynch, Siebert Brandford Shank & Co.
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | March 27
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2011 | Serial | 3.5% | 2.74%
|
| 2012 | Serial | 3.5% | 3.00%
|
| 2013 | Serial | 3.5% | 3.16%
|
| 2014 | Serial | 3.5% | 3.37%
|
| 2015 | Serial | 4% | 3.57%
|
| 2016 | Serial | 4% | 3.77%
|
| 2017 | Serial | 4% | 3.95%
|
| 2018 | Serial | 4% | 4.12%
|
| 2019 | Serial | 4.25% | 4.29%
|
| 2020 | Serial | 5% | 4.42%
|
| 2021 | Serial | 5% | 4.54%
|
| 2022 | Serial | 5.25% | 4.59%
|
| 2023 | Serial | 5.25% | 4.70%
|
| 2024 | Serial | 5.25% | 4.80%
|
| 2025 | Serial | 5.25% | 4.88%
|
| 2026 | Serial | 5% | 5.05%
|
| 2027 | Serial | 5% | 5.09%
|
| 2028 | Serial | 5% | 5.12%
|
| 2032 | Term | 5% | 5.24%
|
| 2037 | Term | 5.125% | 5.30%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
