Published on 4/9/2013 in the Prospect News Municipals Daily.
New Issue: Medford Hospital Facilities, Ore., sells $60.2 million bonds for Rogue Valley Manor
By Sheri Kasprzak
New York, April 9 - The Medford Hospital Facilities Authority of Oregon sold $60.2 million of series 2013A revenue refunding bonds for the Rogue Valley Manor, according to an official statement.
The bonds (/BBB+/A-) were sold through Cain Brothers.
The bonds are due 2013 to 2024 with term bonds due in 2033 and 2042. The serial coupons range from 1.5% to 5% with yields from 0.80% to 3.52%. The 2033 bonds have a split maturity with a 4.125% coupon priced at 98.301 to yield 4.25% and a 5% coupon priced at 107.599 to yield 4.1%. The 2042 bonds have a 5% coupon priced at 105.419 to yield 4.35%.
Proceeds will be used to current refund authority's series 2007 variable-rate demand revenue bonds.
| Issuer: | Medford Hospital Facilities Authority/Rogue Valley Manor
|
| Issue: | Series 2013A revenue refunding bonds
|
| Amount: | $60.2 million
|
| Type: | Negotiated
|
| Underwriter: | Cain Brothers (lead)
|
| Ratings: | Standard & Poor's: BBB+
|
| Fitch: A+
|
| Pricing date: | April 4
|
| Settlement date: | April 11
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $950,000 | 2013 | Serial | 1.5% | 100.329 | 0.8%
|
| $990,000 | 2014 | Serial | 2% | 101.310 | 1.1%
|
| $1 million | 2015 | Serial | 2% | 101.330 | 1.45%
|
| $1,025,000 | 2016 | Serial | 3% | 104.021 | 1.8%
|
| $1,045,000 | 2017 | Serial | 3% | 104.039 | 2.05%
|
| $1.07 million | 2018 | Serial | 4% | 108.425 | 2.35%
|
| $1,105,000 | 2019 | Serial | 5% | 114.211 | 2.6%
|
| $1,155,000 | 2020 | Serial | 5% | 114.522 | 2.83%
|
| $1,195,000 | 2021 | Serial | 5% | 114.461 | 3.05%
|
| $1.25 million | 2022 | Serial | 5% | 114.168 | 3.25%
|
| $1,295,000 | 2023 | Serial | 5% | 113.902 | 3.41%
|
| $1,355,000 | 2024 | Serial | 5% | 112.868 | 3.52%
|
| $9 million | 2033 | Term | 4.125% | 98.301 | 4.25%
|
| $5,445,000 | 2033 | Term | 5% | 107.599 | 4.1%
|
| $32.32 million | 2042 | Term | 5% | 105.419 | 4.35%
|
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