By Sheri Kasprzak
New York, Jan. 15 – The City of Lakeland, Fla., sold $180 million of series 2015 hospital revenue bonds for the Lakeland Regional Health System, according to a pricing sheet.
The bonds (A2) were sold through J.P. Morgan Securities LLC.
The bonds are due 2033 to 2035 with term bonds due in 2040 and 2045. The serial bonds have 5% coupons. The 2040 bonds have a 5% coupon priced at 114.283, and the 2045 bonds have a 5% coupon priced at 113.745.
Proceeds will be used to finance construction of a new women’s and children’s pavilion, the expansion of four operating rooms, the expansion of the emergency department, the expansion of the Lakeland Regional Cancer Center and the construction of a new inpatient rehabilitation center.
| Issuer: | City of Lakeland/Lakeland Regional Health System
|
| Issue: | Series 2015 hospital revenue bonds
|
| Amount: | $180 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Rating: | Moody’s: A2
|
| Pricing date: | Jan. 15
|
| Settlement date: | Feb. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $10.08 million | 2033 | Serial | 5% | 115.551
|
| $10,595,000 | 2034 | Serial | 5% | 115.187
|
| $11.14 million | 2035 | Serial | 5% | 114.824
|
| $64,875,000 | 2040 | Term | 5% | 114.283
|
| $83.31 million | 2045 | Term | 5% | 113.745
|
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