Published on 9/24/2014 in the Prospect News Municipals Daily.
New Issue: Indiana Finance brings $70.3 million of Indiana University Health bonds
By Sheri Kasprzak
New York, Sept. 24 – The Indiana Finance Authority priced $70,295,000 of series 2014A hospital revenue refunding bonds for the Indiana University Health Obligated Group, according to a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold through senior managers J.P. Morgan Securities LLC and RBC Capital Markets LLC.
The bonds are due 2015 to 2030 with 2% to 5% coupons.
Proceeds will be used to refund the obligated group’s series 2006 and 2009A revenue bonds.
| Issuer: | Indiana Finance Authority/Indiana University Health Obligated Group
|
| Issue: | Series 2014A hospital revenue refunding bonds
|
| Amount: | $70,295,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and RBC Capital Markets LLC (lead), Piper Jaffray & Co. (co-manager)
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Fitch: AA-
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.8 million | 2015 | Serial | 2% | 102.008
|
| $3.87 million | 2016 | Serial | 3% | 105.334
|
| $3,985,000 | 2017 | Serial | 4% | 109.905
|
| $6,025,000 | 2018 | Serial | 4% | 111.549
|
| $3,585,000 | 2019 | Serial | 5% | 117.543
|
| $3,765,000 | 2020 | Serial | 5% | 118.557
|
| $3,955,000 | 2021 | Serial | 5% | 119.036
|
| $4,155,000 | 2022 | Serial | 5% | 119.098
|
| $4.36 million | 2023 | Serial | 5% | 119.661
|
| $4.58 million | 2024 | Serial | 5% | 120.263
|
| $4.81 million | 2025 | Serial | 5% | 119.187
|
| $5.05 million | 2026 | Serial | 5% | 118.123
|
| $5.3 million | 2027 | Serial | 5% | 117.261
|
| $5.82 million | 2028 | Serial | 5% | 116.596
|
| $5,855,000 | 2029 | Serial | 5% | 115.841
|
| $1.38 million | 2030 | Serial | 5% | 115.092
|
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