Published on 3/19/2013 in the Prospect News Municipals Daily.
New Issue: New York City Health brings $110.16 million of health system bonds
By Sheri Kasprzak
New York, March 19 - The New York City Health and Hospitals Corp. sold $110,155,000 of series 2013A health system bonds, according to a pricing sheet.
The bonds (Aa3/A+/A+) were sold through Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
The bonds are due 2016 to 2023 with 3% to 5% coupons.
Proceeds will be used to refund the corporation's series 2003A and 2008A revenue bonds.
| Issuer: | New York City Health and Hospitals Corp.
|
| Issue: | Series 2013A health system bonds
|
| Amount: | $110,155,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); Fidelity Capital Markets LLC, Goldman, Sachs & Co., Janney Montgomery Scott LLC, Lebenthal & Co., Loop Capital Markets LLC, M.R. Beal & Co., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, TD Securities (USA) LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | March 19
|
| Settlement date: | March 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $380,000 | 2016 | Serial | 3% | 106.813
|
| $425,000 | 2017 | Serial | 3% | 108.349
|
| $415,000 | 2018 | Serial | 4% | 113.691
|
| $470,000 | 2019 | Serial | 4% | 114.141
|
| $475,000 | 2020 | Serial | 4% | 113.967
|
| $10 million | 2021 | Serial | 4% | 113.809
|
| $24,235,000 | 2021 | Serial | 5% | 121.04
|
| $10 million | 2022 | Serial | 4% | 113.239
|
| $26,005,000 | 2022 | Serial | 5% | 121.215
|
| $10 million | 2023 | Serial | 4% | 112.778
|
| $27.75 million | 2023 | Serial | 5% | 121.471
|
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