By Sheri Kasprzak
New York, May 27 - The Hawaii Pacific Health Obligated Group sold $101.94 million in series 2010A special purpose revenue bonds on Thursday, according to a pricing sheet.
The bonds (A3/BBB+/) were sold through Morgan Stanley & Co. Inc. with J.P. Morgan Securities Inc. as the co-manager.
The bonds are due 2014 to 2021 with term bonds due 2030 and 2040. Coupons range from 3% to 4.625%. The 2030 bonds have a 5.25% coupon, priced at 97.574, and the 2040 bonds have a 5.5% coupon, priced at 97.135.
Proceeds from the sale will be used to refund the health system's series 2005A and 2009A bonds.
The obligated group, which is based in Honolulu, operates the Kapi'olani Medical Center for Women and Children and its related organizations.
| Issuer: | Hawaii Pacific Health Obligated Group
|
| Issue: | Series 2010A special purpose revenue bonds
|
| Amount: | $101.94 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead); J.P. Morgan Securities Inc. (co-manager)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Pricing date: | May 27
|
| Settlement date: | June 10
|
|
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 3% | 99.658
|
| 2015 | Serial | 3.375% | 99.745
|
| 2016 | Serial | 3.625% | 99.005
|
| 2017 | Serial | 4% | 99.39
|
| 2018 | Serial | 4.125% | 98.883
|
| 2019 | Serial | 4.375% | 99.222
|
| 2020 | Serial | 4.5% | 98.961
|
| 2021 | Serial | 4.625% | 98.931
|
| 2030 | Term | 5.25% | 97.574
|
| 2040 | Term | 5.5% | 97.135
|
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