By Aaron Hochman-Zimmerman
New York, May 6 - The Hawaii Department of Budget and Finance priced $78.67 million in series 2009A and 2009B special purpose revenue bonds (Aaa/VMIG1/AAA/A-1) on behalf of the Queens Health System, according to chief financial officer Rick Keene.
Banc of America Securities LLC acted as lead underwriter for the 2009A bonds, while Merrill Lynch & Co. Inc. acted as lead manager for the 2009B bonds.
Each $39.335 million tranche matures on July 1, 2029.
Proceeds from the negotiated sale will be used to refund series 2003B and 2006B bonds.
The Hawaii Department of Budget and Finance is located in Honolulu.
| Issuer: | Hawaii Department of Budget and Finance/Queens Health System
|
| Amount: | $78.67 million
|
| Type: | Negotiated
|
| Pricing date: | May 6
|
| Ratings: | Moody's: Aaa/VMIG1
|
| Standard & Poor's: AAA
|
| Fitch: A-1
|
|
|
| Series 2009A bonds
|
| Issue: | Series 2009A special purpose revenue bonds
|
| Amount: | $39.335 million
|
| Maturity: | July 1, 2029
|
| Underwriter: | Banc of America Securities LLC
|
|
|
| Series 2009B bonds
|
| Issue: | Series 2009B special purpose revenue bonds
|
| Amount: | $39.335 million
|
| Maturity: | July 1, 2029
|
| Underwriter: | Merrill Lynch & Co. Inc.
|
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