| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for Illinois Finance Authority > News item |
Municipals hold steady ahead of $6 billion calendar; Presence Health preps $967 million bonds
By Sheri Kasprzak
New York, July 25 – Municipals closed Monday’s session mostly flat as the market awaited about $6 billion of new offerings, traders said.
The 10-year triple-A muni bond yield remained at 1.48% and the 30-year yield at 2.29%.
Moving to Treasuries, the market softened after a two-year note auction failed to draw much attention. The 10-year benchmark note yield edged up 1 basis point, and the five-year note yield rose 2 bps to 1.15%. The two-year yield ended 1 bp higher at 0.72%. The 30-year bond yield held steady at 2.29%.
The Treasury Department auctioned off $26 billion of two-year notes at a high yield of 0.76%. The bid-to-cover ratio came in at 2.52, the weakest ratio since late 2008.
Presence deal ahead
Moving to the week’s new-issue calendar, about $6 billion of new offerings are scheduled, led by a deal from the Illinois Finance Authority. The authority is on tap to price $967,385,000 of series 2016C revenue bonds (Baa3/BBB-/BBB) for Presence Health Network.
The bonds will be sold through J.P. Morgan Securities LLC and are due 2020 to 2034 with term bonds due in 2036 and 2041.
Proceeds from the sale will be used to refund the health network’s series 1999A-B, 2009, 2009A, 2010A and 2016A revenue bonds.
Sutter Health bonds set
In other health-care offerings, the California Health Facilities Financing Authority plans to price $850 million of series 2016 revenue and refunding bonds (Aa3/AA-/AA-) for Sutter Health.
The bonds will be sold through Morgan Stanley & Co. LLC.
The offering includes $750 million of series 2016B refunding revenue bonds and $100 million of series 2016C revenue bonds.
Proceeds will be used to refund the authority’s series 2007A revenue bonds and construct a new hospital at Van Ness Avenue and Geary Boulevard and a new hospital adjacent to St. Luke’s Hospital, both in San Francisco.
© 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.