Published on 1/29/2010 in the Prospect News Municipals Daily.
New Issue: Asante Health, Ore., sells $175 million revenue refunding bonds
By Sheri Kasprzak
New York, Jan. 29 - The Hospital Facilities Authority of the City of Medford, Ore., brought to market $175 million in series 2010 hospital revenue refunding bonds for Asante Health System, according to a pricing sheet.
The bonds (/AAA/) were sold through lead manager Bank of America Merrill Lynch with co-managers Citigroup Global Markets Inc., Edward Jones & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
The bonds are due 2011 to 2028 with term bonds due 2035, 2036 and 2040. The coupons range from 3% to 5.125%.
Proceeds will be used to refund the system's series 2008 bonds, as well as to reimburse the system for construction and renovation projects.
| Issuer: | Hospital Facilities Authority of the City of Medford, Ore./Asante Health System
|
| Issue: | Series 2010 hospital revenue refunding bonds
|
| Amount: | $175 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead), Citigroup Global Markets Inc., Edward Jones & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. (co-managers)
|
| Rating: | Standard & Poor's: AAA
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 17
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 3% | 102.658
|
| 2012 | Serial | 3% | 103.26
|
| 2013 | Serial | 4% | 106.473
|
| 2014 | Serial | 3% | 102.37
|
| 2015 | Serial | 5% | 110.434
|
| 2016 | Serial | 3.25% | 99.305
|
| 2017 | Serial | 4% | 102.079
|
| 2018 | Serial | 4% | 100.357
|
| 2018 | Serial | 5% | 107.514
|
| 2019 | Serial | 5% | 106.614
|
| 2020 | Serial | 4.25% | 99.832
|
| 2021 | Serial | 5% | 105.275
|
| 2022 | Serial | 4.25% | 97.63
|
| 2022 | Serial | 4.5% | 100
|
| 2023 | Serial | 4.25% | 96.705
|
| 2023 | Serial | 4.5% | 99.201
|
| 2024 | Serial | 4.5% | 98.638
|
| 2035 | Term | 5% | 99.287
|
| 2036 | Term | 4.75% | 94.944
|
| 2040 | Term | 5.125% | 99.312
|
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