Published on 6/4/2015 in the Prospect News Municipals Daily.
New Issue: Nebraska Methodist Health System sells $223.23 million of revenue bonds
By Sheri Kasprzak
New York, June 4 – The Nebraska Methodist Health System priced $223.23 million of series 2015 health facilities revenue and refunding bonds, according to a pricing sheet.
The deal included $40,695,000 of series 2015 bonds through the Hospital Authority No. 2 of Douglas County and $182,535,000 of series 2015 bonds through the Hospital Authority No. 3 of Douglas County.
The Hospital Authority No. 2 bonds are due in 2045 and have a 4.25% coupon priced at 96.037 to yield 4.49% and a 5% coupon priced at 105.461 to yield 4.34%.
The Hospital Authority No. 3 bonds are due 2016 to 2030 with term bonds due in 2036, 2045 and 2048. The serial coupons range from 3% to 5% with yields from 0.93% to 3.88%. The 2036 bonds have a 4.125% coupon priced at 96.885 to yield 4.35%. The 2045 bonds have a 5% coupon priced at 105.461 to yield 4.34% and the 2048 bonds have a 5% coupon priced at 105.034 to yield 4.39%.
The bonds (/A-/A-) were sold through Cain Brothers and J.P. Morgan Securities LLC.
Proceeds will be used to acquire, construct, equip and improve the health system’s facilities in Omaha, as well as to refund the system’s series 1997 bonds.
| Issuer: | Nebraska Methodist Health System
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| Issue: | Series 2015 health facilities revenue and refunding bonds
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| Amount: | $223.23 million
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| Type: | Negotiated
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| Underwriters: | Cain Brothers and J.P. Morgan Securities LLC
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| Ratings: | Standard & Poor’s: A-
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| Fitch: A-
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| Pricing date: | June 4
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| Settlement date: | June 16
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| $40,695,000 series 2015 bonds through Hospital Authority No. 2 of Douglas County
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $30,965,000 | 2045 | Term | 4.25% | 96.037 | 4.49%
|
| $9.73 million | 2045 | Term | 5% | 105.461 | 4.34%
|
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| $182,535,000 series 2015 bonds through Hospital Authority No. 3 of Douglas County
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,505,000 | 2016 | Serial | 3% | 102.82 | 0.93%
|
| $2.59 million | 2017 | Serial | 3% | 103.795 | 1.37%
|
| $3.25 million | 2018 | Serial | 4% | 107.239 | 1.78%
|
| $3,385,000 | 2019 | Serial | 4% | 108.031 | 2.07%
|
| $3.52 million | 2020 | Serial | 5% | 113.413 | 2.33%
|
| $3,695,000 | 2021 | Serial | 5% | 113.823 | 2.63%
|
| $3.92 million | 2022 | Serial | 5% | 114.349 | 2.83%
|
| $4.14 million | 2023 | Serial | 5% | 114.631 | 3.01%
|
| $4,345,000 | 2024 | Serial | 5% | 114.563 | 3.19%
|
| $4.56 million | 2025 | Serial | 5% | 114.262 | 3.36%
|
| $4.78 million | 2026 | Serial | 5% | 112.581 | 3.54%
|
| $5,275,000 | 2027 | Serial | 5% | 111.568 | 3.65%
|
| $5.47 million | 2028 | Serial | 5% | 110.748 | 3.74%
|
| $5,745,000 | 2029 | Serial | 5% | 110.205 | 3.80%
|
| $6.03 million | 2030 | Serial | 5% | 109.486 | 3.88%
|
| $41.6 million | 2036 | Term | 4.125% | 96.885 | 4.35%
|
| $55.86 million | 2045 | Term | 5% | 105.461 | 4.34%
|
| $21,865,000 | 2048 | Term | 5% | 105.034 | 4.39%
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