By Sheri Kasprzak
New York, Aug. 17 - The Maryland Health and Higher Educational Facilities Authority priced $57.205 million of series 2011A revenue bonds for Adventist Health Care, according to a pricing sheet.
The bonds (Baa2) were sold on a negotiated basis with Ziegler Capital Markets Inc. and M&T Securities Inc. as the senior managers.
The bonds are due 2022 to 2023 with term bonds due in 2026, 2031 and 2036. The serial coupons range from 5% to 5.5%. The 2026 bonds have a 6% coupon priced at 102.702, and the 2031 bonds have a 6.25% coupon priced at 101.894. The 2036 bonds have a 6.125% coupon priced at 98.43.
Proceeds will be used to refund existing debt and make a deposit to a debt service reserve.
Issuer: | Maryland Health and Higher Educational Facilities Authority/Adventist Health Care
|
Issue: | Series 2011A revenue bonds
|
Amount: | $57.205 million
|
Type: | Negotiated
|
Underwriters: | Ziegler Capital Markets Inc. and M&T Securities Inc. (lead)
|
Rating: | Moody's: Baa2
|
Pricing date: | Aug. 17
|
Settlement date: | Sept. 1
|
|
Amount | Maturity | Type | Coupon | Price
|
$1.405 million | 2022 | Serial | 5% | 99.197
|
$2.665 million | 2022 | Serial | 5.25% | 101.185
|
$1.915 million | 2023 | Serial | 5.125% | 98.935
|
$2.36 million | 2023 | Serial | 5.5% | 101.966
|
$11.08 million | 2026 | Term | 6% | 102.702
|
$15.875 million | 2031 | Term | 6.25% | 101.894
|
$21.905 million | 2036 | Term | 6.125% | 98.43
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.