By Sheri Kasprzak
New York, Feb. 8 - The North Carolina Medical Care Commission sold $60.25 million of series 2011A revenue refunding bonds for Moses Cone Health System, said a pricing sheet.
The bonds (AA/AA) were sold through Morgan Stanley & Co. Inc. The co-managers were BB&T Capital Markets, Bank of America Merrill Lynch, Edward Jones & Co. and Wells Fargo Securities LLC.
The bonds are due 2013 to 2023 with 3.2% to 5% coupons.
Proceeds will be used to refund the health care system's series 1993 bonds.
Located in Raleigh, N.C., the commission acts as a regulatory agency for the state's health care systems.
Based in Greensboro, N.C., Moses Cone Health operates acute care hospitals.
| Issuer: | North Carolina Medical Care Commission/Moses Cone Health System
|
| Issue: | Series 2011A revenue refunding bonds
|
| Amount: | $60.25 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), BB&T Capital Markets, Bank of America Merrill Lynch, Edward Jones & Co. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 16
|
|
|
| Maturity | Type | Coupon
|
| 2013 | Serial | 4%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 4%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 3.2%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4.3%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4.75%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
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