By Sheri Kasprzak
New York, July 7 - The Department of Budget and Finance of the State of Hawaii priced $61.86 million in series 2010B special purpose revenue bonds on Wednesday for the Hawaii Pacific Health Obligated Group, according to a pricing sheet.
The bonds (A3/BBB+/) were sold on a negotiated basis with Morgan Stanley & Co. Inc. and J.P. Morgan Securities Inc.
The bonds are due 2014 to 2020 with term bonds due 2030 and 2040. Coupons range from 5% to 5.75%.
Proceeds will be used to finance the costs of constructing, improving and equipping Hawaii Pacific facilities.
| Issuer: | Department of Budget and Finance of the State of Hawaii/Hawaii Pacific Health Obligated Group
|
| Issue: | Series 2010B special purpose revenue bonds
|
| Amount: | $61.86 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc., J.P. Morgan Securities Inc.
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Pricing date: | July 7
|
| Settlement date: | July 21
|
|
|
| Maturity | Type | Coupon | Price
|
| 2014 | Serial | 5% | 106.047
|
| 2015 | Serial | 5% | 105.73
|
| 2016 | Serial | 5% | 104.702
|
| 2017 | Serial | 5% | 103.675
|
| 2018 | Serial | 5% | 102.768
|
| 2019 | Serial | 5% | 101.583
|
| 2020 | Serial | 5% | 100.308
|
| 2030 | Term | 5.625% | 97.943
|
| 2040 | Term | 5.75% | 97.899
|
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