By Sheri Kasprzak
New York, Sept. 17 - The Massachusetts Health and Educational Facilities Authority priced $63.69 million in series 2010C revenue bonds on Wednesday for the Massachusetts Eye and Ear Infirmary, according to an official statement released Friday.
The bonds (Baa3/BBB-/) were sold through Morgan Stanley & Co. Inc.
The bonds are due 2014 to 2020 with a term bond due 2035. The serial coupons were 5% across the board. Yields range from 3.2% to 4.75%. The 2035 bonds have a 5.375% coupon to yield 5.5%.
Proceeds from the sale will be used to pay for or reimburse the infirmary for costs to upgrade medical facilities, as well as to fund a debt service reserve fund and a capitalized interest account for the bonds.
| Issuer: | Massachusetts Health and Educational Facilities Authority/Massachusetts Eye and Ear Infirmary
|
| Issue: | Series 2010C revenue bonds
|
| Amount: | $63.69 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. Inc. (lead)
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 29
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2014 | Serial | 5% | 3.20%
|
| 2015 | Serial | 5% | 3.45%
|
| 2016 | Serial | 5% | 3.75%
|
| 2017 | Serial | 5% | 4.00%
|
| 2018 | Serial | 5% | 4.25%
|
| 2019 | Serial | 5% | 4.50%
|
| 2020 | Serial | 5% | 4.75%
|
| 2035 | Term | 5.375% | 5.50%
|
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