Published on 5/2/2012 in the Prospect News Municipals Daily.
New Issue: Ohio brings $187.86 million of revenue bonds for University Hospitals Health System
By Sheri Kasprzak
New York, May 2 - The State of Ohio sold $187,855,000 of series 2012 hospital revenue bonds for the University Hospitals Health System Inc., according to a pricing sheet.
The bonds (A2/A/) were sold through senior managers Bank of America Merrill Lynch and Barclays Capital Inc. The co-managers were Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, US Bancorp Inc. and Wells Fargo Securities LLC.
The bonds are due 2014 to 2026 with term bonds due in 2036 and 2041. The serial coupons range from 3% to 5%. The 2036 bonds have a 4.25% coupon priced at 98.242. The 2041 bonds have split maturities with a 4.5% coupon priced at 99.202, a 5% coupon priced at 112.336 and a 5% coupon priced at 110.568.
Proceeds will be used to refund series 2009A hospital revenue bonds issued for the health system.
| Issuer: | State of Ohio/University Hospitals Health System Inc.
|
| Issue: | Series 2012 hospital revenue bonds
|
| Amount: | $187,855,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Barclays Capital Inc. (lead), Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, US Bancorp Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | May 2
|
| Settlement date: | June 21
|
|
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.52 million | 2014 | Serial | 3% | 103.164
|
| $2.94 million | 2015 | Serial | 4% | 106.74
|
| $4,095,000 | 2016 | Serial | 5% | 111.556
|
| $1.83 million | 2017 | Serial | 5% | 113.403
|
| $2.81 million | 2018 | Serial | 3% | 104.009
|
| $4.56 million | 2019 | Serial | 5% | 115.051
|
| $4.94 million | 2020 | Serial | 5% | 115.053
|
| $1,155,000 | 2021 | Serial | 3% | 99.923
|
| $1.92 million | 2021 | Serial | 5% | 114.926
|
| $3,055,000 | 2022 | Serial | 5% | 114.997
|
| $3,005,000 | 2023 | Serial | 5% | 114.963
|
| $2.45 million | 2024 | Serial | 4% | 104.236
|
| $735,000 | 2025 | Serial | 3.5% | 98.101
|
| $750,000 | 2026 | Serial | 3.75% | 99.262
|
| $25,285,000 | 2036 | Term | 4.25% | 98.242
|
| $38,315,000 | 2041 | Term | 4.5% | 99.202
|
| $25 million | 2041 | Term | 5% | 112.336
|
| $62.49 million | 2041 | Term | 5% | 110.568
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
