Published on 4/28/2011 in the Prospect News Municipals Daily.
New Issue: Mississippi Development Bank sells $82.95 million for Magnolia Regional
By Sheri Kasprzak
New York, April 28 - The Mississippi Development Bank priced Thursday $82.945 million of series 2011A special obligation bonds for the Magnolia Regional Health Center, said a pricing sheet.
The bonds (Baa2) were sold through Morgan Keegan & Co. Inc.
The bonds are due 2011 to 2024 with term bonds due in 2026, 2031 and 2036. The serial coupons range from 3% to 6%. The 2026 bonds have a 6.25% coupon priced at par, and the 2031 bonds have a 6.5% coupon priced at 97.243. The 2036 bonds have a 6.75% coupon priced at 97.62.
Proceeds will be used to finance the construction, improvement, furnishing and equipment of the medical center's imaging department, registration and pre-admission testing, emergency department and surgical center, as well as refund the medical center's series 1998 bonds.
Magnolia Regional is located in Corinth, Miss.
| Issuer: | Mississippi Development Bank/Magnolia Regional Health Center
|
| Issue: | Series 2011A special obligation bonds
|
| Amount: | $82.945 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Keegan & Co. Inc.
|
| Rating: | Moody's: Baa2
|
| Pricing date: | April 28
|
| Settlement date: | May 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $655,000 | 2011 | Serial | 4% | 100.859
|
| $700,000 | 2012 | Serial | 4% | 102.373
|
| $635,000 | 2013 | Serial | 4% | 102.865
|
| $550,000 | 2014 | Serial | 3% | 99.265
|
| $800,000 | 2014 | Serial | 5% | 105.63
|
| $1.325 million | 2015 | Serial | 3.5% | 99.274
|
| $505,000 | 2015 | Serial | 5% | 105.297
|
| $1.285 million | 2016 | Serial | 4% | 99.852
|
| $710,000 | 2016 | Serial | 5% | 104.65
|
| $565,000 | 2017 | Serial | 5.5% | 106.004
|
| $1.52 million | 2017 | Serial | 4.25% | 99.113
|
| $1.59 million | 2018 | Serial | 4.5% | 98.331
|
| $595,000 | 2018 | Serial | 5.5% | 104.494
|
| $1.67 million | 2019 | Serial | 5% | 99.521
|
| $625,000 | 2019 | Serial | 5.5% | 102.901
|
| $2.415 million | 2020 | Serial | 5% | 97.87
|
| $1.7 million | 2021 | Serial | 5.5% | 100.228
|
| $735,000 | 2022 | Serial | 5.5% | 98.911
|
| $775,000 | 2023 | Serial | 6% | 101.536
|
| $815,000 | 2024 | Serial | 6% | 100.298
|
| $13.64 million | 2026 | Term | 6.25% | 100
|
| $20.82 million | 2031 | Term | 6.5% | 97.243
|
| $28.315 million | 2036 | Term | 6.75% | 97.62
|
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