By Sheri Kasprzak
New York, Aug. 4 – Utah County, Utah, sold $80 million of series 2014 variable-rate hospital revenue bonds for the IHC Health Services Inc., according to an official statement.
The deal included $40 million of series 2014B bonds and $40 million of series 2014C bonds.
Both bonds are due May 15, 2049 and bear interest at the Windows rate plus 6 bps.
The bonds (Aa1/P-1/AA+/A-1+/) were sold on a negotiated basis with Wells Fargo Securities LLC as the lead manager for the 2014B bonds and J.P. Morgan Securities LLC as the lead manager for the 2014C bonds.
Proceeds will be used to finance and reimburse the corporation for the construction, equipment, furnishing and improvement of IHC Health facilities.
| Issuer: | Utah County, Utah/IHC Health Services Inc.
|
| Issue: | Series 2014 variable-rate hospital revenue bonds
|
| Amount: | $80 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead for 2014B), J.P. Morgan Securities LLC (lead for 2014C)
|
| Ratings: | Moody’s: Aa1/P-1
|
| Standard & Poor’s: AA+/A-1+
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 7
|
|
|
| $40 million series 2014B bonds
|
| Maturity | Type | Coupon | Price | Initial Mandatory Tender Window
|
| May 15, 2049 | Term | Windows rate plus 6 bps | 100 | 210 days
|
|
|
| $40 million series 2014C bonds
|
| Maturity | Type | Coupon | Price | Initial Mandatory Tender Window
|
| May 15, 2049 | Term | Windows rate plus 6 bps | 100 | 210 days
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
