Published on 3/14/2013 in the Prospect News Municipals Daily.
New Issue: Maryland Health prices $117.79 million of 2013A MedStar Health bonds
By Sheri Kasprzak
New York, March 14 - The Maryland Health and Higher Educational Facilities Authority sold $117,785,000 of series 2013A revenue bonds for MedStar Health, according to a pricing sheet.
The bonds (A2/A-/A) were sold through Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
The bonds are due 2016 to 2018 and 2023 to 2028 with term bonds due in 2038 and 2041. The serial coupons range from 3% to 5%. The 2038 bonds have a 5% coupon priced at 109.865. The 2041 bonds have a split maturity with a 4% coupon priced at 97.671 and a 5% coupon priced at 109.326.
Proceeds will be used to finance capital projects and refund authority's series 1998A-B revenue bonds.
| Issuer: | Maryland Health and Higher Educational Facilities Authority/MedStar Health
|
| Issue: | Series 2013A revenue bonds
|
| Amount: | $117,785,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead), BofA Merrill Lynch, Loop Capital Markets LLC, RBC Capital Markets LLC, US Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Pricing date: | March 14
|
| Settlement date: | March 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.02 million | 2016 | Serial | 3% | 107.468
|
| $1.52 million | 2017 | Serial | 4% | 112.835
|
| $1.64 million | 2018 | Serial | 4% | 113.81
|
| $6.89 million | 2023 | Serial | 5% | 120.328
|
| $1.5 million | 2024 | Serial | 3% | 99.043
|
| $5.79 million | 2024 | Serial | 4% | 108.874
|
| $5,795,000 | 2024 | Serial | 5% | 118.636
|
| $10.66 million | 2025 | Serial | 4.25% | 109.502
|
| $7.97 million | 2026 | Serial | 5% | 116.006
|
| $8.37 million | 2027 | Serial | 5% | 115.24
|
| $4.38 million | 2028 | Serial | 3.5% | 97.78
|
| $4,385,000 | 2028 | Serial | 4% | 103.529
|
| $17.32 million | 2038 | Term | 5% | 109.865
|
| $14,545,000 | 2041 | Term | 4% | 97.671
|
| $25 million | 2041 | Term | 5% | 109.326
|
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