Published on 3/16/2011 in the Prospect News Municipals Daily.
New Issue: Maryland Health sells $51.15 million of bonds for LifeBridge Health
By Sheri Kasprzak
New York, March 16 - The Maryland Health and Higher Education Facilities Authority priced $51.145 million of series 2011 revenue bonds for LifeBridge Health Inc., said a pricing sheet.
The bonds (A2/A) were sold on a negotiated basis with Bank of America Merrill Lynch and M&T Securities Inc. as the senior managers.
The bonds are due 2012 to 2026 with term bonds due in 2031 and 2041. The serial coupons range from 2.5% to 6%. The 2031 bonds have a 5.75% coupon priced at 98.462, and the 2041 bonds have a 6% coupon priced at 98.615.
Proceeds will be used to construct, renovate and equip LifeBridge Health facilities.
| Issuer: | Maryland Health and Higher Education Facilities Authority/LifeBridge Health Inc.
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $51.145 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and M&T Securities Inc.
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | March 16
|
| Settlement date: | March 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $775,000 | 2012 | Serial | 2.5% | 101.011
|
| $790,000 | 2013 | Serial | 3% | 101.791
|
| $815,000 | 2014 | Serial | 4% | 104.241
|
| $850,000 | 2015 | Serial | 3.5% | 101.299
|
| $880,000 | 2016 | Serial | 4% | 102.327
|
| $915,000 | 2017 | Serial | 5% | 106.731
|
| $960,000 | 2018 | Serial | 4% | 99.621
|
| $1 million | 2019 | Serial | 5% | 104.813
|
| $1.05 million | 2020 | Serial | 5% | 103.513
|
| $1.1 million | 2021 | Serial | 4.75% | 100
|
| $1.155 million | 2022 | Serial | 6% | 108.877
|
| $1.22 million | 2023 | Serial | 6% | 107.737
|
| $1.295 million | 2024 | Serial | 5.25% | 99.425
|
| $1.365 million | 2025 | Serial | 6% | 105.189
|
| $1.445 million | 2026 | Serial | 5.5% | 99.074
|
| $8.605 million | 2031 | Term | 5.75% | 98.462
|
| $26.925 million | 2041 | Term | 6% | 98.615
|
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