New Issue: Missouri Health offers up $360.29 million of Mercy Health revenue bonds

By Sheri Kasprzak

New York, Nov. 17 – The Missouri Health and Educational Facilities Authority sold $360.29 million of series 2014F revenue bonds for Mercy Health, according to a pricing sheet.

The bonds (Aa3/AA-/) were sold through senior manager BofA Merrill Lynch.

The bonds are due 2031, 2034, 2038, 2045 and 2048. The 2031 bonds have a 3.5% coupon priced at 96.27 to yield 3.80% and the 2034 bonds have a 5% coupon priced at 111.567 to yield 3.61%. The 2045 bonds have a 4% coupon priced at 95.218 to yield 4.28% and a 5% coupon priced at 108.853 to yield 3.92%. The 2048 bonds have a 4.25% coupon priced at 96.852 to yield 4.43%.

Proceeds will be used to finance, refinance and reimburse the health system for improvements and projects.

Issuer:	Missouri Health and Educational Facilities Authority/Mercy Health
Issue:	Series 2014F revenue bonds
Amount:	$360.29 million
Type:	Negotiated
Underwriters:	BofA Merrill Lynch (lead), Barclays, Edward D. Jones & Co. LP and J.P. Morgan Securities LLC (co-managers)
Ratings:	Moody’s: Aa3
	Standard & Poor’s: AA-
Pricing date:	Nov. 4
Settlement date:	Nov. 20
Amount	Maturity	Type	Coupon	Price	Yield
$10.2 million	2031	Term	3.5%	96.27	3.80%
$36 million	2034	Term	5%	111.567	3.61%
$11,835,000	2038	Term	4%	98.181	4.12%
$142,885,000	2045	Term	4%	95.218	4.28%
$75 million	2045	Term	5%	108.853	3.92%
$85 million	2048	Term	4.25%	96.852	4.43%

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