By Sheri Kasprzak
New York, April 7 - The Ascension Health Senior Credit Group priced $326.225 million in series 2008 revenue bonds through the Health and Educational Facilities Authority of the State of Missouri on March 27, according to an official statement.
The bonds (Aa1/AA/AA+) include $102.05 million in series 2008C bonds and $224.175 million in series 2008E bonds.
The 2008C bonds are comprised of $50.95 million in series 2008C-4 bonds due Nov. 15, 2009 and $51.1 million in series 2008C-5 bonds due Nov. 15, 2009. Both bonds have a 3.5% coupon and priced at par.
The 2008E bonds include $60 million in series 2008E-4 bonds due Nov. 15, 2009 with a 3.5% coupon, priced at par, as well as $61.625 million in series 2008E-5 bonds due Dec. 15, 2009 with a 3.5% coupon, also priced at par. The offering also includes $50.45 million in series 2008E-7 bonds due Dec. 15, 2009 with a 3.5% coupon, priced at par, and $52.1 million in series 2008E-8 bonds due Dec. 15, 2009 with a 3.5% coupon, also priced at par.
Citigroup Global Markets and Morgan Stanley were the lead managers for the negotiated offerings.
The series 2008 bonds will be exchanged for a correlating series of 2003 bonds.
Issuer: | Ascension Health Senior Credit Group
|
Issue: | Series 2008 revenue bonds
|
Amount: | $326.225 million
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets and Morgan Stanley
|
Ratings: | Moody's: Aa1
|
| S&P: AA
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| Fitch: AA+
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Pricing date: | March 27
|
|
Series 2008C bonds
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Series 2008C-4
|
Maturity | Type | Coupon | Yield
|
Nov. 15, 2009 | Term | 3.5% | 3.5%
|
|
Series 2008C-5
|
Maturity | Type | Coupon | Yield
|
Nov. 15, 2009 | Term | 3.5% | 3.5%
|
|
Series 2008E bonds
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Series 2008E-4
|
Maturity | Type | Coupon | Yield
|
Nov. 15, 2009 | Term | 3.5% | 3.5%
|
|
Series 2008E-5 |
|
Maturity | Type | Coupon | Yield
|
Dec. 15, 2009 | Term | 3.5% | 3.5%
|
|
Series 2008E-7
|
Maturity | Type | Coupon | Yield
|
Dec. 15, 2009 | Term | 3.5% | 3.5%
|
|
Series 2008E-8
|
Maturity | Type | Coupon | Yield
|
Dec. 15, 2009 | Term | 3.5% | 3.5%
|
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