Published on 4/12/2012 in the Prospect News Municipals Daily.
New Issue: Kaiser Permanente, Calif., brings $1 billion 3.5%, 4.875% taxable bonds
By Sheri Kasprzak
New York, April 12 - Kaiser Permanente of California came to market with $1 billion of series 2012 taxable bonds, according to an official statement.
The bonds (/A+/A+) were sold through Citigroup Global Markets Inc.; Goldman, Sachs & Co.; and J.P. Morgan Securities LLC.
The deal included $400 million of 3.5% bonds and $600 million of 4.875% bonds.
The 3.5% bonds are due April 1, 2022, and were priced at 99.194 to yield 3.597%. The 4.875% bonds are due April 1, 2042, and were priced at 99.238 to yield 4.924%.
Proceeds will be used for general corporate purposes for the health system.
| Issuer: | Kaiser Permanente, Calif.
|
| Issue: | Series 2012 taxable bonds
|
| Amount: | $1 billion
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC (lead)
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | April 3
|
| Settlement date: | April 11
|
|
|
| $400 million 3.5% bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| April 1, 2022 | Term | 3.5% | 99.194 | 3.597%
|
|
|
| $600 million 4.875% bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| April 1, 2042 | Term | 4.875% | 99.238 | 4.924%
|
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