Published on 8/22/2012 in the Prospect News Municipals Daily.
New Issue: Arizona Health sells $285.32 million Phoenix Children's Hospital bonds
By Sheri Kasprzak
New York, Aug. 22 - The Arizona Health Facilities Authority priced $285.32 million of series 2012A hospital revenue refunding bonds for the Phoenix Children's Hospital, according to a term sheet.
The bonds (/BBB+/) were sold through J.P. Morgan Securities LLC with Bank of America Merrill Lynch as the co-manager.
The bonds are due 2015 to 2023 with term bonds due in 2027, 2030, 2034 and 2042. The serial coupons range from 2% to 5%. The 2027 bonds have a 5% coupon priced at 107.769, the 2030 bonds have a 5% coupon priced at 106.157, the 2034 bonds have a 5% coupon priced at 104.653 and the 2042 bonds have a 5% coupon priced at 103.098.
Proceeds will be used to refund the authority's series 2007 revenue bonds issued for the children's hospital.
Issuer: | Arizona Health Facilities Authority/Phoenix Children's Hospital
|
Issue: | Series 2012A hospital revenue refunding bonds
|
Amount: | $285.32 million
|
Type: | Negotiated
|
Underwriters: | J.P. Morgan Securities LLC (lead), Bank of America Merrill Lynch (co-manager)
|
Ratings: | Standard & Poor's: BBB+
|
Pricing date: | Aug. 22
|
Settlement date: | Sept. 6
|
|
Amount | Maturity | Type | Coupon | Price
|
$8.97 million | 2015 | Serial | 2% | 100.82
|
$9.2 million | 2016 | Serial | 3% | 103.64
|
$9,525,000 | 2017 | Serial | 4% | 107.992
|
$9,965,000 | 2018 | Serial | 5% | 113.098
|
$10,475,000 | 2019 | Serial | 5% | 112.998
|
$11,015,000 | 2020 | Serial | 5% | 112.62
|
$7,145,000 | 2021 | Serial | 5% | 112.071
|
$6.94 million | 2022 | Serial | 5% | 111.333
|
$7.26 million | 2023 | Serial | 5% | 109.824
|
$32.86 million | 2027 | Term | 5% | 107.769
|
$29.35 million | 2030 | Term | 5% | 106.157
|
$46.48 million | 2034 | Term | 5% | 104.653
|
$96,135,000 | 2042 | Term | 5% | 103.098
|
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