Published on 5/15/2014 in the Prospect News Municipals Daily.
New Issue: Nassau County Local Economic sells $77.73 million Catholic Health bonds
By Sheri Kasprzak
New York, May 15 - The Nassau County Local Economic Assistance Corp. of New York priced $77,725,000 of series 2014 revenue bonds for the Catholic Health Services of Long Island, said a pricing sheet.
The bonds (/BBB+/BBB+) were sold through Morgan Stanley & Co. LLC and Goldman Sachs & Co.
The bonds are due 2015 to 2034 with 3% to 5% coupons and 0.5% to 4.07% yields.
Proceeds will be used to refund the corporation's series 2004 revenue bonds for St. Francis Hospital.
| Issuer: | Nassau County Local Economic Assistance Corp./Catholic Health Services of Long Island
|
| Issue: | Series 2014 revenue bonds
|
| Amount: | $77,725,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Goldman Sachs & Co. (lead)
|
| Ratings: | Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Pricing date: | May 15
|
| Settlement date: | May 21
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.9 million | 2015 | Serial | 3% | 102.766 | 0.5%
|
| $2,585,000 | 2016 | Serial | 3% | 104.552 | 0.82%
|
| $2.66 million | 2017 | Serial | 3% | 105.385 | 1.23%
|
| $2.74 million | 2018 | Serial | 4% | 109.343 | 1.64%
|
| $2.85 million | 2019 | Serial | 4% | 109.516 | 2.03%
|
| $2,965,000 | 2020 | Serial | 5% | 114.939 | 2.36%
|
| $3,115,000 | 2021 | Serial | 5% | 114.997 | 2.67%
|
| $3.27 million | 2022 | Serial | 5% | 115 | 2.91%
|
| $3,435,000 | 2023 | Serial | 5% | 114.721 | 3.13%
|
| $3,605,000 | 2024 | Serial | 5% | 114.511 | 3.3%
|
| $3,785,000 | 2025 | Serial | 5% | 113.498 | 3.41%
|
| $3,975,000 | 2026 | Serial | 5% | 112.496 | 3.52%
|
| $4,175,000 | 2027 | Serial | 5% | 111.594 | 3.62%
|
| $4.38 million | 2028 | Serial | 5% | 110.789 | 3.71%
|
| $4.6 million | 2029 | Serial | 5% | 109.992 | 3.8%
|
| $4.83 million | 2030 | Serial | 5% | 109.377 | 3.87%
|
| $5.07 million | 2031 | Serial | 5% | 108.94 | 3.92%
|
| $5,325,000 | 2032 | Serial | 5% | 108.765 | 3.94%
|
| $5.59 million | 2033 | Serial | 5% | 108.158 | 4.01%
|
| $5.87 million | 2034 | Serial | 5% | 107.641 | 4.07%
|
© 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.
