Published on 8/23/2012 in the Prospect News Municipals Daily.
New Issue: Miami Beach Health sells $132.29 million of Mount Sinai Medical bonds
By Sheri Kasprzak
New York, Aug. 23 - The Miami Beach Health Facilities Authority of Florida priced $132,285,000 of series 2012 hospital revenue refunding bonds for the Mount Sinai Medical Center, according to a pricing sheet.
The bonds (Baa2/BBB/) were sold through Raymond James/Morgan Keegan.
The bonds are due 2012 to 2023 with term bonds due in 2025 and 2029. The serial coupons range from 2% to 5%. The 2025 bonds have a 4% coupon priced at 99.286 and the 2029 bonds have a 5% coupon priced at 107.681.
Proceeds will be used to refund and redeem the authority's series 1998 and series 2001A bonds.
| Issuer: | Miami Beach Health Facilities Authority/Mount Sinai Medical Center
|
| Issue: | Series 2012 hospital revenue refunding bonds
|
| Amount: | $132,285,000
|
| Type: | Negotiated
|
| Underwriter: | Raymond James/Morgan Keegan
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Pricing date: | Aug. 23
|
| Settlement date: | Sept. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.8 million | 2012 | Serial | 2% | 100.194
|
| $5,525,000 | 2013 | Serial | 3% | 102.097
|
| $5.69 million | 2014 | Serial | 3% | 103.2
|
| $5,865,000 | 2015 | Serial | 3% | 103.908
|
| $6,035,000 | 2016 | Serial | 3% | 103.905
|
| $6,215,000 | 2017 | Serial | 4% | 108.352
|
| $6.47 million | 2018 | Serial | 4% | 107.643
|
| $6,725,000 | 2019 | Serial | 5% | 112.962
|
| $7,065,000 | 2020 | Serial | 5% | 112.245
|
| $7,415,000 | 2021 | Serial | 5% | 111.185
|
| $7,785,000 | 2022 | Serial | 5% | 110.668
|
| $8,175,000 | 2023 | Serial | 5% | 109.602
|
| $17.51 million | 2025 | Term | 4% | 99.286
|
| $40.01 million | 2029 | Term | 5% | 107.681
|
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