Published on 12/16/2014 in the Prospect News Municipals Daily.
New Issue: Arizona Health sells $304.33 million Scottsdale Lincoln Hospital bonds
By Sheri Kasprzak
New York, Dec. 16 – The Arizona Health Facilities Authority sold $304,325,000 of series 2014A revenue bonds for the Scottsdale Lincoln Hospital, according to a pricing sheet.
The bonds (A2//A) were sold through Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.
The bonds are due 2015 to 2034 with term bonds due in 2039 and 2042. The serial coupons range from 3% to 5%. The 2039 bonds have a 2.75% coupon priced at par, a 4% coupon priced at 98.753 and a 5% coupon priced at 111.519. The 2042 bonds have a 5% coupon priced at 110.902.
Proceeds will be used to refinance debt associated with the construction, equipment, acquisition and renovation of a health and emergency services building in Scottsdale.
| Issuer: | Arizona Health Facilities Authority/Scottsdale Lincoln Hospital
|
| Issue: | Series 2014A revenue bonds
|
| Amount: | $304,325,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (lead), BofA Merrill Lynch (co-manager)
|
| Ratings: | Moody’s: A2
|
| Fitch: A
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,255,000 | 2015 | Serial | 3% | 102.433
|
| $1.55 million | 2016 | Serial | 3% | 104.46
|
| $2 million | 2016 | Serial | 5% | 108.306
|
| $3.66 million | 2017 | Serial | 5% | 111.401
|
| $2 million | 2018 | Serial | 4% | 109.727
|
| $1,815,000 | 2018 | Serial | 5% | 113.542
|
| $3.99 million | 2019 | Serial | 5% | 115.414
|
| $4.06 million | 2020 | Serial | 5% | 116.597
|
| $4.2 million | 2021 | Serial | 5% | 117.363
|
| $4.5 million | 2022 | Serial | 5% | 117.978
|
| $4.67 million | 2023 | Serial | 5% | 118.855
|
| $13.62 million | 2024 | Serial | 5% | 119.545
|
| $14.16 million | 2025 | Serial | 5% | 117.735
|
| $14,865,000 | 2026 | Serial | 5% | 116.515
|
| $14,735,000 | 2027 | Serial | 5% | 115.772
|
| $7.05 million | 2028 | Serial | 5% | 115.31
|
| $17.16 million | 2029 | Serial | 5% | 114.851
|
| $17,975,000 | 2030 | Serial | 5% | 114.394
|
| $8.2 million | 2031 | Serial | 5% | 113.939
|
| $8,605,000 | 2032 | Serial | 5% | 113.667
|
| $9.18 million | 2033 | Serial | 5% | 113.306
|
| $9,695,000 | 2034 | Serial | 5% | 113.036
|
| $10 million | 2039 | Term | 2.75% | 100
|
| $5 million | 2039 | Term | 4% | 98.753
|
| $47.19 million | 2039 | Term | 5% | 111.519
|
| $70.19 million | 2042 | Term | 5% | 110.902
|
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