By Sheri Kasprzak
New York, July 17 - The Dauphin County General Authority of Pennsylvania priced $130 million of series 2012A health system revenue bonds for Pinnacle Health System, according to a term sheet.
The bonds (A3/A/) were sold through Citigroup Global Markets Inc. with M&T Securities Inc. and Wells Fargo Securities LLC as the co-managers.
The bonds are due 2027, 2032, 2036 and 2042. The 2027 bonds have a 4% coupon priced at102.945, the 2032 bonds have a 3.75% coupon priced at 96.596, the 2036 bonds have a 4% coupon priced at 98.484 and the 2042 bonds have a 5% coupon priced at 106.375.
Proceeds will be used to construct, equip and acquire a 200,000 square-foot hospital in Hampden Township, Pa., and the renovation of Harrisburg Hospital in Harrisburg, Pa.
| Issuer: | Dauphin County General Authority/Pinnacle Health System
|
| Issue: | Series 2012A health system revenue bonds
|
| Amount: | $130 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), M&T Securities Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Pricing date: | July 17
|
| Settlement date: | Aug. 7
|
|
|
| Maturity | Type | Coupon | Price
|
| 2027 | Term | 4% | 102.945
|
| 2032 | Term | 3.75% | 96.596
|
| 2036 | Term | 4% | 98.484
|
| 2042 | Term | 5% | 106.375
|
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