By Sheri Kasprzak
New York, Oct. 21 - The CHE Trinity Health Credit Group sold $168.97 million of series 2013 revenue bonds in two tranches, according to a pricing sheet.
The offering included $65.06 million of series 2013MI-1 hospital revenue bonds through the Michigan Finance Authority and $103.91 million of series 2013MD revenue bonds through Montgomery County, Md.
The 2013MI-1 bonds are due Dec. 1, 2034 and initially bear interest at the term rate. The end of the initial interest period is Nov. 30, 2013.
The 2013MD bonds are due Dec. 1, 2041 and initially bear interest at the term rate. The end of the initial interest period is Nov. 30, 2013.
The bonds (Aa2/P-1/AA-/A-1+/AA/F1+) were sold through senior managers Goldman, Sachs & Co. and BofA Merrill Lynch.
Proceeds will be used to construct, improve and renovate health care facilities operated by CHE Trinity in Idaho, Maryland, Michigan, Ohio, California, Delaware, Florida, Illinois, Indiana, Iowa and Pennsylvania, as well as to redeem existing debt.
Issuer: | CHE Trinity Health Credit Group
|
Issue: | Series 2013 revenue bonds
|
Amount: | $168.97 million
|
Type: | Negotiated
|
Underwriters: | Goldman, Sachs & Co. and BofA Merrill Lynch (lead)
|
Ratings: | Moody's: Aa2/P-1
|
| Standard & Poor's: AA-/A-1+
|
| Fitch: AA/F1+
|
Pricing date: | Oct. 18
|
Settlement date: | Oct. 30
|
|
$65.06 million series 2013MI-1 Michigan Finance Authority hospital revenue bonds
|
Maturity | Type | Coupon | Price | End of Initial Interest Period
|
Dec. 1, 2034 | Term | Term rate | 100 | Nov. 30, 2013
|
|
$103.91 million series 2013MD revenue bonds
|
Maturity | Type | Coupon | Price | End of Initial Interest Period
|
Dec. 1, 2041 | Term | Term rate | 100 | Nov. 30, 2013
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.