By Sheri Kasprzak
New York, April 29 – The Dormitory Authority of the State of New York sold $68.9 million of series 2015 revenue bonds for the Orange Regional Medical Center on Wednesday, according to a pricing sheet.
The bonds (Ba1//BB+) were sold through J.P. Morgan Securities LLC and BofA Merrill Lynch.
The bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The serial bonds have 5% coupons. The 2040 bonds have a 5% coupon priced at 104.415, and the 2045 bonds have a 5% coupon priced at 104.004.
Proceeds will be used to finance a new cancer center and a parking facility for the medical center.
| Issuer: | Dormitory Authority of the State of New York/Orange Regional Medical Center
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $68.9 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and BofA Merrill Lynch (lead)
|
| Ratings: | Moody’s: Ba1
|
| Fitch: BB+
|
| Pricing date: | April 29
|
| Settlement date: | May 13
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.1 million | 2016 | Serial | 5% | 105.865
|
| $1.1 million | 2017 | Serial | 5% | 108.409
|
| $1.2 million | 2018 | Serial | 5% | 110.05
|
| $1.2 million | 2019 | Serial | 5% | 111.188
|
| $1.3 million | 2020 | Serial | 5% | 111.998
|
| $1.3 million | 2021 | Serial | 5% | 112.064
|
| $1.4 million | 2022 | Serial | 5% | 111.987
|
| $1.5 million | 2023 | Serial | 5% | 112.019
|
| $1.5 million | 2024 | Serial | 5% | 111.656
|
| $1.6 million | 2025 | Serial | 5% | 110.826
|
| $1.7 million | 2026 | Serial | 5% | 109.419
|
| $1.8 million | 2027 | Serial | 5% | 108.292
|
| $1.9 million | 2028 | Serial | 5% | 107.35
|
| $2 million | 2029 | Serial | 5% | 106.67
|
| $2 million | 2030 | Serial | 5% | 106.08
|
| $2.1 million | 2031 | Serial | 5% | 105.577
|
| $2.3 million | 2032 | Serial | 5% | 105.077
|
| $2.4 million | 2033 | Serial | 5% | 104.745
|
| $2.5 million | 2034 | Serial | 5% | 104.58
|
| $2.6 million | 2035 | Serial | 5% | 104.498
|
| $15.1 million | 2040 | Term | 5% | 104.415
|
| $19.3 million | 2045 | Term | 5% | 104.004
|
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