Published on 5/17/2012 in the Prospect News Municipals Daily.
New Issue: Chatham County Hospital Authority, Ga., sells $155.81 million Memorial Health bonds
By Sheri Kasprzak
New York, May 17 - The Chatham County Hospital Authority of Georgia priced $155.81 million of series 2012A seven mill tax pledge refunding and improvement revenue bonds for the Memorial Health University Medical Center, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through Wells Fargo Securities LLC as the senior manager. The co-managers were Bank of America Merrill Lynch and Siebert Brandford Shank & Co. LLC.
The bonds are due 2018 to 2027 with term bonds due in 2031 and 2034. The serial coupons range from 2% to 5%. The 2031 bonds have a 4% coupon priced at par and a 5% coupon priced at 113.083. The 2034 bonds have a 4% coupon priced at 98.573.
Proceeds will be used to construct, equip, acquire and improve children's hospital operated by the medical center.
| Issuer: | Chatham County Hospital Authority, Ga./Memorial Health University Medical Center
|
| Issue: | Series 2012A seven mill tax pledge refunding and improvement revenue bonds
|
| Amount: | $155.81 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), Bank of America Merrill Lynch and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | May 17
|
| Settlement date: | May 29
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.19 million | 2018 | Serial | 2% | 102.562
|
| $50,000 | 2018 | Serial | 3% | 107.9
|
| $5.33 million | 2018 | Serial | 5% | 118.577
|
| $6.86 million | 2019 | Serial | 4% | 113.809
|
| $640,000 | 2020 | Serial | 2% | 99.579
|
| $6,495,000 | 2020 | Serial | 4% | 113.563
|
| $7.41 million | 2021 | Serial | 5% | 121.105
|
| $7.78 million | 2022 | Serial | 5% | 121.481
|
| $705,000 | 2023 | Serial | 2.5% | 98.712
|
| $7,465,000 | 2023 | Serial | 5% | 119.875
|
| $8.56 million | 2024 | Serial | 5% | 118.571
|
| $8.99 million | 2025 | Serial | 5% | 117.284
|
| $9,435,000 | 2026 | Serial | 5% | 116.103
|
| $840,000 | 2027 | Serial | 3.5% | 99.094
|
| $9.07 million | 2027 | Serial | 5% | 115.564
|
| $24.43 million | 2031 | Term | 4% | 100
|
| $20 million | 2031 | Term | 5% | 113.083
|
| $38.61 million | 2034 | Term | 4% | 98.573
|
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