Published on 10/20/2011 in the Prospect News Municipals Daily.
New Issue: Maryland Health brings $74.62 million of revenue bonds for Johns Hopkins Health
By Sheri Kasprzak
New York, Oct. 20 - The Maryland Health and Higher Educational Facilities Authority sold on Thursday $74.615 million of series 2011A revenue bonds for the Johns Hopkins Health System Obligated Group, according to a pricing sheet.
The bonds (Aa3/AA-/AA-) were sold through Goldman, Sachs & Co. and J.P. Morgan Securities LLC. The co-managers were Bank of America Merrill Lynch and PNC Capital Markets LLC.
The bonds are due 2013 to 2026 with 2% to 5% coupons.
Proceeds will be used to refund the health system's series 2001 bonds, which were issued to fund the construction, equipment and installation of Johns Hopkins facilities.
| Issuer: | Maryland Health and Higher Educational Facilities Authority/Johns Hopkins Health System Obligated Group
|
| Issue: | Series 2011A revenue bonds
|
| Amount | $74.615 million
|
| Type | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and J.P. Morgan Securities LLC (lead), Bank of America Merrill Lynch and PNC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Oct. 20
|
| Settlement date: | Nov. 10
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.05 million | 2013 | Serial | 2% | 102.03
|
| $1.21 million | 2013 | Serial | 5% | 106.542
|
| $250,000 | 2014 | Serial | 2.5% | 103.588
|
| $2.35 million | 2014 | Serial | 5% | 109.774
|
| $725,000 | 2015 | Serial | 2.5% | 103.41
|
| $1.935 million | 2015 | Serial | 5% | 111.936
|
| $100,000 | 2016 | Serial | 5% | 112.886
|
| $135,000 | 2017 | Serial | 3% | 103.974
|
| $2.35 million | 2017 | Serial | 5% | 114.296
|
| $175,000 | 2018 | Serial | 3.25% | 104.359
|
| $6.76 million | 2018 | Serial | 5% | 114.812
|
| $290,000 | 2019 | Serial | 3.5% | 104.368
|
| $6.725 million | 2019 | Serial | 5% | 114.449
|
| $2.89 million | 2020 | Serial | 3.75% | 104.373
|
| $3.815 million | 2020 | Serial | 5% | 113.64
|
| $2.745 million | 2021 | Serial | 3.75% | 103.731
|
| $4.365 million | 2021 | Serial | 5% | 113.871
|
| $5.28 million | 2022 | Serial | 5% | 112.652
|
| $5.22 million | 2023 | Serial | 5% | 111.449
|
| $2.22 million | 2024 | Serial | 4% | 101.583
|
| $10.525 million | 2025 | Serial | 5% | 108.672
|
| $13.5 million | 2026 | Serial | 5% | 107.847
|
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