By Sheri Kasprzak
New York, March 19 - The Connecticut Health and Educational Facilities Authority sold $92,635,000 of series 2014E revenue bonds for Hartford Healthcare, according to a pricing sheet.
The bonds (A2/A/A) were sold through Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
The bonds are due 2025 to 2030 with term bonds due in 2034 and 2042. The serial coupons range from 4% to 5% with 3.67% to 4.33% yields. The 2034 bonds have a 5% coupon priced at 102.988 to yield 4.63%. The 2042 bonds have a 5% coupon priced at 101.274 to yield 4.84%.
Proceeds will be used to finance capital projects, refinance lines of credit and finance working capital.
| Issuer: | Connecticut Health and Educational Facilities Authority/Hartford Healthcare
|
| Issue: | Series 2014E revenue bonds
|
| Amount: | $92,635,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead), Morgan Stanley & Co. LLC (co-manager)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | March 19
|
| Settlement date: | March 26
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2025 | Serial | 5% | 111.283 | 3.67%
|
| 2026 | Serial | 5% | 109.668 | 3.85%
|
| 2027 | Serial | 5% | 108.169 | 4.02%
|
| 2028 | Serial | 5% | 107.212 | 4.13%
|
| 2029 | Serial | 4% | 97.208 | 4.25%
|
| 2030 | Serial | 4% | 96.17 | 4.33%
|
| 2034 | Term | 5% | 102.988 | 4.63%
|
| 2042 | Term | 5% | 101.274 | 4.84%
|
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