Published on 7/26/2013 in the Prospect News Municipals Daily.
New Issue: Johnson City Health, Tenn., prices $115.9 million Mountain States bonds
By Sheri Kasprzak
New York, July 26 - The Health and Educational Facilities Board of Johnson City, Tenn., priced $115,915,000 of series 2013 hospital revenue bonds for the Mountain States Health Alliance, according to an official statement.
The deal includes $16,235,000 of series 2013A revenue bonds and $99.68 million of series 2013B taxable refunding bonds.
Both bonds are due Aug. 15, 2043 and bear interest at the weekly rate.
The bonds (/AA-/A-1+/AA-/F1+) were sold through BofA Merrill Lynch.
Proceeds will be used to finance or refinance capital improvements to facilities operated by the alliance, as well as to refund the alliance's series 2007B-2 revenue bonds.
| Issuer: | Health and Educational Facilities Board of Johnson City, Tenn./Mountain States Health Alliance
|
| Issue: | Series 2013 hospital revenue bonds
|
| Amount: | $115,915,000
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch (lead)
|
| Ratings: | Standard & Poor's: AA-/A-1+
|
| Fitch: AA-/F1+
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
|
|
| $16,235,000 series 2013A revenue bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 15, 2043 | Term | Weekly | 100
|
|
|
| $99.68 million series 2013B taxable refunding bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 15, 2043 | Term | Weekly | 100
|
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