Published on 6/11/2015 in the Prospect News Municipals Daily.
New Issue: St. Paul Housing and Redevelopment, Minn., sells $138.84 million bonds
By Sheri Kasprzak
New York, June 11 – The St. Paul Housing and Redevelopment Authority of Minnesota sold $138.84 million of series 2015A hospital facility revenue bonds for HealthEast Care System, according to a pricing sheet.
The bonds (/BBB-/BBB-) were sold through J.P. Morgan Securities LLC and BofA Merrill Lynch.
The bonds are due 2015 to 2021 and 2023 to 2030 with term bonds due in 2035, 2040 and 2044. The serial coupons range from 2% to 5%. The 2035 bonds have a 5.25% coupon priced at 104.57 and the 2040 bonds have a 5% coupon priced at 102.438. The 2044 bonds have a 5% coupon priced at 102.026.
Proceeds will be used to finance capital improvements to the Woodwinds Hospital campus.
| Issuer: | St. Paul Housing and Redevelopment Authority, Minn./HealthEast Care System
|
| Issue: | Series 2015A hospital facility revenue bonds
|
| Amount: | $138.84 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and BofA Merrill Lynch
|
| Ratings: | Standard & Poor’s: BBB-
|
| Fitch: BBB-
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| Pricing date: | June 11
|
| Settlement date: | June 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.04 million | 2015 | Serial | 2% | 100.426
|
| $600,000 | 2016 | Serial | 3% | 101.984
|
| $625,000 | 2017 | Serial | 4% | 104.952
|
| $2.73 million | 2018 | Serial | 5% | 108.854
|
| $2.86 million | 2019 | Serial | 5% | 109.891
|
| $3,005,000 | 2020 | Serial | 5% | 110.194
|
| $3,155,000 | 2021 | Serial | 5% | 106.688
|
| $8,385,000 | 2023 | Serial | 5% | 109.828
|
| $8.76 million | 2024 | Serial | 5% | 109.315
|
| $9,155,000 | 2025 | Serial | 5% | 106.546
|
| $9,575,000 | 2026 | Serial | 5% | 105.893
|
| $10,015,000 | 2027 | Serial | 5% | 106.848
|
| $9.67 million | 2028 | Serial | 5.25% | 106.4
|
| $9.99 million | 2029 | Serial | 5% | 105.983
|
| $10.5 million | 2030 | Serial | 5% | 105.467
|
| $13,605,000 | 2035 | Term | 5.25% | 104.57
|
| $17,575,000 | 2040 | Term | 5% | 102.438
|
| $17,595,000 | 2044 | Term | 5% | 102.026
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