By Sheri Kasprzak
New York, Dec. 15 - The Massachusetts Health and Educational Facilities Authority priced $376.485 million in series 2009J health care system revenue bonds for Partners Health Care System Inc., according to a pricing sheet.
The bonds (Aa2/AA/AA) were sold through lead manager J.P. Morgan Securities Inc.
The sale includes $330.78 million in series 2009J-1 bonds and $45.705 million in series 2009J-2 bonds. The 2009J-1 bonds are due 2012 to 2014 with term bonds due 2024, 2025, 2029 and 2039. The coupons range from 3% to 5%. The 2009J-2 bonds are due 2012 to 2024 bonds with 5% coupons across the board.
Proceeds will be used to fund improvements to the health care system.
| Issuer: | Massachusetts Health and Educational Facilities Authority/Partners Health Care System Inc.
|
| Issue: | Series 2009J health care system revenue bonds
|
| Amount: | $376.485 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities Inc. (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Dec. 15
|
| Settlement date: | Jan. 5, 2010
|
|
|
| Series 2009J-1 bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3% | 103.031
|
| 2013 | Serial | 3% | 102.978
|
| 2014 | Serial | 3% | 101.854
|
| 2024 | Term | 4.25% | 97.775
|
| 2025 | Term | 4.25% | 96.906
|
| 2029 | Term | 5.25% | NRO
|
| 2034 | Term | 5% | 98.885
|
| 2039 | Term | 5% | 98.332
|
|
|
| Series 2009J-2 bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Term | 5% | 107.881
|
| 2015 | Serial | 5% | 110.051
|
| 2016 | Serial | 5% | 109.428
|
| 2017 | Serial | 5% | 108.912
|
| 2018 | Serial | 5% | 108.184
|
| 2019 | Serial | 5% | 107.585
|
| 2020 | Serial | 5% | 106.993
|
| 2021 | Serial | 5% | 106.667
|
| 2022 | Serial | 5% | 106.510
|
| 2023 | Serial | 5% | 106.159
|
| 2024 | Serial | 5% | 105.717
|
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