By Sheri Kasprzak
New York, Oct. 18 - The Arizona Health Facilities Authority sold $252.24 million of series 2012 revenue bonds for Banner Health, according to a pricing sheet.
The offering includes $184.03 million of series 2012A tax-exempt bonds and $68.21 million of series 2012B taxable bonds.
The 2012A bonds are due 2039 and 2043. The 2039 bonds have a 3.75% coupon priced at 96.279. The 2043 bonds have a split maturity with a 4% coupon priced at 99.129 and a 5% coupon. The 5% bonds were not reoffered.
The bonds (/AA-/AA-) were sold through Bank of America Merrill Lynch and Morgan Stanley & Co. LLC.
Proceeds will be used to construct a new patient tower, two parking garages, a cardiac wing, a neonatal intensive care unit and operating rooms at the Banner Estrella Medical Center in Phoenix and the construction of two shelled floors at the Banner Baywood Medical Center in Mesa, Ariz., as well as to refund existing debt.
| Issuer: | Arizona Health Facilities Authority/Banner Health
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $252.24 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Morgan Stanley & Co. LLC
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Oct. 18
|
| Settlement date: | Nov. 8
|
|
|
| $184.03 million series 2012A tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $33.92 million | 2039 | Term | 3.75% | 96.279
|
| $125.11 million | 2043 | Term | 4% | 99.129
|
| $25 million | 2043 | Term | 5% | NRO
|
|
|
| $68.21 million series 2012B taxable bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2030 | Term | 4.162% | 100
|
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