Published on 1/31/2013 in the Prospect News Municipals Daily.
New Issue: Maine Health sells $143.9 million Eastern Maine Medical revenue bonds
By Sheri Kasprzak
New York, Jan. 31 - The Maine Health and Higher Educational Facilities Authority sold $143.9 million of series 2013 revenue bonds for the Eastern Maine Medical Center Obligated Group, according to a pricing sheet.
The bonds (Baa1/BBB/) were sold through Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2028 with term bonds due in 2033 and 2043. The serial coupons range from 3% to 5%. The 2033 bonds have a 5% coupon priced at 109.942, and the 2043 bonds have a 5% coupon priced at 107.106.
Proceeds will be used to construct, equip and renovate Eastern Maine Medical Center properties in Bangor.
| Issuer: | Maine Health and Higher Educational Facilities Authority/Eastern Maine Medical Center Obligated Group
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $143.9 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC (lead), Bank of America Merrill Lynch and Wells Fargo Securities LLC (co-managers)
|
| Rating: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $190,000 | 2014 | Serial | 3% | 102.879
|
| $495,000 | 2015 | Serial | 3% | 104.215
|
| $620,000 | 2016 | Serial | 3% | 104.76
|
| $250,000 | 2017 | Serial | 3% | 104.776
|
| $285,000 | 2018 | Serial | 3% | 104.505
|
| $620,000 | 2019 | Serial | 3% | 103.529
|
| $320,000 | 2020 | Serial | 3% | 102.196
|
| $325,000 | 2021 | Serial | 3% | 100.515
|
| $2,765,000 | 2022 | Serial | 5% | 115.804
|
| $2,905,000 | 2023 | Serial | 3% | 97.809
|
| $2,985,000 | 2024 | Serial | 5% | 114.366
|
| $3.14 million | 2025 | Serial | 5% | 113.614
|
| $3,295,000 | 2026 | Serial | 5% | 112.682
|
| $3.46 million | 2027 | Serial | 5% | 112.035
|
| $3,635,000 | 2028 | Serial | 3.75% | 98.844
|
| $25.91 million | 2033 | Term | 5% | 109.942
|
| $92.7 million | 2043 | Term | 5% | 107.106
|
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