By Sheri Kasprzak
New York, Oct. 13 - The Trinity Health Credit Group sold $257.56 million in series 2010 revenue and revenue refunding bonds (Aa2/AA/AA) on Wednesday, according to pricing sheets.
The offering was conducted through a variety of issuers.
The Michigan Finance Authority priced $136.25 million in series 2010A revenue refunding bonds, which are due 2012 to 2020 with term bonds due 2025 and 2027. The serial coupons range from 3% to 5%. The 2025 bonds have a 4% coupon, and the 2027 bonds have a 5% coupon.
The Indiana Finance Authority priced $65.25 million in series 2010B revenue and refunding bonds. The bonds are due 2019 to 2020 with term bonds due 2028 and 2037. The coupons range from 3.25% to 5%. The 2028 bonds have a 4.25% coupon and a 5% coupon. The 2037 bonds have a 4.5% coupon and a 5% coupon.
Franklin County, Ohio, sold $25.415 million in series 2010C revenue and refunding bonds, which are due 2011 to 2014 with a term bond due 2037. Coupons range from 2.5% to 3%. The 2037 bonds have a 4.5% coupon.
The Idaho Health Facilities Authority brought $27.86 million in series 2010D revenue bonds. Those bonds are due 2037 with a 4.5% coupon.
The Hospital Facility Authority of the City of Ontario, Ore., priced $20.785 million in series 2010E bonds, which are due 2037 with a split maturity. The bonds have a 4.5% coupon and a 5% coupon.
The full details of the offering were not immediately available Wednesday evening.
Bank of America Merrill Lynch and Goldman Sachs & Co. were the joint bookrunners for the deal.
Proceeds will be used to finance improvements to Trinity Health facilities, as well as to refinance all or a portion of its Michigan, Iowa, Indiana, California and Ohio bonds.
| Issuer: | Trinity Health Credit Group
|
| Issue: | Series 2010 revenue and revenue refunding bonds
|
| Amount: | $257.56 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch and Goldman Sachs & Co.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 28
|
|
|
| $136.25 million series 2010A/Michigan Finance Authority
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 4%
|
| 2014 | Serial | 3%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 3%
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2025 | Term | 4%
|
| 2027 | Term | 5%
|
|
|
| $65.25 million series 2010B/Indiana Finance Authority
|
| Maturity | Type | Coupon
|
| 2019 | Serial | 3.25%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2028 | Term | 4.25%
|
| 2028 | Term | 5%
|
| 2037 | Term | 4.5%
|
| 2037 | Term | 5%
|
|
|
| $25.415 million series 2010C/Franklin County, Ohio
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 2.5%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 3%
|
| 2037 | Term | 4.5%
|
|
|
| $27.86 million series 2010D/Idaho Health Facilities Authority
|
| Maturity | Type | Coupon
|
| 2037 | Term | 4.5%
|
|
|
| $20.785 million series 2010E/Hospital Facility Authority of Ontario, Ore.
|
| Maturity | Type | Coupon
|
| 2037 | Term | 4.5%
|
| 2037 | Term | 5%
|
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