By Sheri Kasprzak
New York, June 19 - The Northampton General Purpose Authority of Pennsylvania priced $65 million of series 2013 hospital revenue bonds for St. Luke's Hospital, according to a pricing sheet.
The deal included $25 million of series 2013A bonds and $40 million of series 2013B variable-rate bonds.
The 2013A bonds are due Aug. 15, 2033 and bear interest at 5% priced at 101.986 to yield 4.75%.
The 2013B bonds are due Aug. 15, 2043 and initially bear interest at the index floating rate.
The bonds (A3/BBB+/) were offered through BofA Merrill Lynch.
Proceeds will be used to finance a 200-bed expansion to the hospital's Anderson, Pa., campus, as well as to make other renovations to St. Luke's facilities.
| Issuer: | Northampton General Purpose Authority/St. Luke's Hospital
|
| Issue: | Series 2013 hospital revenue bonds
|
| Amount: | $65 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch (lead)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Pricing date: | June 19
|
| Settlement date: | June 27
|
|
|
| $25 million series 2013A bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Aug. 15, 2033 | Term | 5% | 101.986 | 4.75%
|
|
|
| $40 million series 2013B variable-rate bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 15, 2043 | Term | Index floating rate | 100
|
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