By Cristal Cody
Springdale, Ark., July 17 - Integris Health in Oklahoma priced $231.67 million health system revenue and refunding bonds with a 5.29% true interest cost on Thursday, a sellside source told Prospect News.
The $114.67 million series 2008B bonds priced with 5% to 5.25% coupons to yield 2.24% to 5.489%. The bonds have serial maturities from 2009 through 2014 and a term due 2038.
The $117 million series 2008C bonds priced with 4.5% to 5.25% coupons to yield 4.04% to 5.38%. The bonds have serial maturities from 2014 through 2022 and terms due 2024 and 2029.
The bonds (Aa3/AA-/) were sold through the Oklahoma Development Finance Authority for Integris Baptist Medical Center, Integris South Oklahoma City Hospital and Integris Rural Health.
Goldman, Sachs & Co. was the senior manager of the negotiated sale and JPMorgan was the co-manager.
Proceeds will be used to finance or refinance acquisitions and capital improvements and refund $32.7 million of the $37.165 million outstanding from the series 1995D revenue refunding bonds and $117.3 million of the $118 million outstanding from the series 1999B variable-rate revenue refunding bonds.
| Issuer: | Integris Health/Oklahoma Development Finance Authority
|
| Issue: | Health system revenue and refunding bonds
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| Total amount: | $231.67 million
|
| Type: | Negotiated
|
| True interest cost: | 5.29%
|
| Underwriter: | Goldman, Sachs & Co. (lead)
|
| Ratings: | Moody's: Aa3
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| Standard & Poor's: AA-
|
| Pricing date: | July 17
|
| Settlement date: | July 30
|
|
|
| Series 2008B
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| Issue: | Series 2008B bonds
|
| Amount: | $114.67 million
|
| Coupons: | 5%-5.25%
|
| Yields: | 2.24%-5.489%
|
| Maturities: | 2009-2014 serials; 2038 term
|
|
|
| Series 2008C
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| Issue: | Series 2008C bonds
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| Amount: | $117 million
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| Coupons: | 4.5%-5.25%
|
| Yields: | 4.04%-5.38%
|
| Maturities: | 2014-2022 serials; 2024 and 2029 terms
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