Published on 3/7/2012 in the Prospect News Municipals Daily.
New Issue: Noland Health Services of Pell, Ala., prices $83.51 million of bonds
By Sheri Kasprzak
New York, March 7 - The Special Care Facilities Financing Authority of the City of Pell, Ala., sold $83.51 million of series 2012A revenue bonds for Noland Health Services Inc., according to an official statement.
The bonds (/A-/) were sold through RBC Capital Markets LLC.
The bonds are due 2012 to 2021 with term bonds due in 2025, 2031 and 2039. The serial coupons range from 2% to 5% with yields from 0.88% to 3.47%. The 2025 bonds have a split maturity with a 4% coupon priced at 98.500 to yield 4.14% and a 5% coupon priced at 107.989 to yield 4%. The 2031 bonds have a 5% coupon priced at 104.218 to yield 4.46% and the 2039 bonds have a 5% coupon priced at 100.99 to yield 4.87%.
Proceeds will be used to finance capital improvements at Noland health care facilities and advance refund the health care system's series 2007A revenue bonds and current refund its series 2009A revenue bonds.
| Issuer: | Special Care Facilities Financing Authority of the City of Pell, Ala./Noland Health Services Inc.
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $83.51 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Rating: | Standard & Poor's: A-
|
| Pricing date: | March 1
|
| Settlement date: | March 8
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.16 million | 2012 | Serial | 2% | 100.813 | 0.88%
|
| $1.61 million | 2013 | Serial | 4% | 104.744 | 1.22%
|
| $1,675,000 | 2014 | Serial | 4% | 106.856 | 1.43%
|
| $1,745,000 | 2015 | Serial | 4% | 108.277 | 1.70%
|
| $1.81 million | 2016 | Serial | 4% | 109.360 | 1.92%
|
| $1,885,000 | 2017 | Serial | 4% | 108.907 | 2.33%
|
| $1.96 million | 2018 | Serial | 4% | 107.693 | 2.74%
|
| $2.04 million | 2019 | Serial | 5% | 113.481 | 3.03%
|
| $2.14 million | 2020 | Serial | 5% | 112.799 | 3.13%
|
| $2.25 million | 2021 | Serial | 5% | 112.538 | 3.47%
|
| $5,095,000 | 2025 | Term | 4% | 98.500 | 4.14%
|
| $5 million | 2025 | Term | 5% | 107.989 | 4.00%
|
| $19,135,000 | 2031 | Term | 5% | 104.218 | 4.46%
|
| $36,005,000 | 2039 | Term | 5% | 100.990 | 4.87%
|
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