Published on 10/9/2012 in the Prospect News Municipals Daily.
New Issue: Ohio brings $55.83 million of University Hospitals Health revenue bonds
By Sheri Kasprzak
New York, Oct. 9 - The State of Ohio priced $55,825,000 of series 2012C hospital revenue bonds for University Hospitals Health System Inc., according to a pricing sheet.
The bonds (A2/A/) were sold through Bank of America Merrill Lynch and Barclays.
The bonds are due 2020 to 2029 with term bonds due in 2032, 2035, 2039 and 2042. The serial coupons range from 3% to 3.625%. The 2032 bonds have a 3.875% coupon priced at 99.525, and the 2035 bonds have a 4% coupon priced at 98.833. The 2039 bonds have a 4.125% coupon priced at 98.96, and the 2042 bonds have a 4.125% coupon priced at 98.407.
Proceeds will be used to refund the health system's series 2009B and 2009C-1 revenue bonds.
| Issuer: | State of Ohio/University Hospitals Health System Inc.
|
| Issue: | Series 2012C hospital revenue bonds
|
| Amount: | $55,825,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Barclays (lead); Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC and US Bancorp Inc. (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.55 million | 2020 | Serial | 3% | 101.388
|
| $1.65 million | 2021 | Serial | 3.5% | 102.247
|
| $4 million | 2022 | Serial | 3% | 99.12
|
| $6.5 million | 2023 | Serial | 3.25% | 99.651
|
| $2 million | 2024 | Serial | 3.375% | 99.579
|
| $6.5 million | 2025 | Serial | 3.375% | 98.859
|
| $900,000 | 2026 | Serial | 3.5% | 99.472
|
| $1.25 million | 2027 | Serial | 3.5% | 98.78
|
| $1.2 million | 2028 | Serial | 3.625% | 99.474
|
| $1.3 million | 2029 | Serial | 3.625% | 98.726
|
| $1.28 million | 2032 | Term | 3.875% | 99.525
|
| $8.82 million | 2035 | Term | 4% | 98.833
|
| $14.46 million | 2039 | Term | 4.125% | 98.96
|
| $4,415,000 | 2042 | Term | 4.125% | 98.407
|
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