Published on 5/27/2015 in the Prospect News Municipals Daily.
New Issue: Public Finance, Wis., offers up $141.49 million of Renown Medical bonds
By Sheri Kasprzak
New York, May 27 – The Public Finance Authority of Wisconsin sold $141,495,000 of series 2015A hospital revenue refunding bonds for the Renown Regional Medical Center, according to a pricing sheet.
The bonds (A2/A/) were sold through BofA Merrill Lynch and Barclays.
The bonds are due 2016 to 2034 with term bonds due in 2038 and 2041. The serial coupons range from 3% to 5% with 0.6% to 4.3% yields. The 2038 bonds have a 4.25% coupon priced at 97.138 to yield 4.45%, and the 2041 bonds have a 4.25% coupon priced at 95.895 to yield 4.52%.
Proceeds will be used to current refund the authority’s series 2001 and advance refund its series 2007 bonds issued for the medical center.
| Issuer: | Public Finance Authority, Wis./Renown Regional Medical Center
|
| Issue: | Series 2015A hospital revenue refunding bonds
|
| Amount: | $141,495,000
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Barclays
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Pricing date: | May 21
|
| Settlement date: | June 3
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $205,000 | 2016 | Serial | 3% | 102.375 | 0.60%
|
| $200,000 | 2017 | Serial | 3% | 103.758 | 1.09%
|
| $2.53 million | 2018 | Serial | 5% | 110.118 | 1.53%
|
| $2,645,000 | 2019 | Serial | 5% | 112.239 | 1.81%
|
| $4,685,000 | 2020 | Serial | 5% | 113.631 | 2.11%
|
| $4.93 million | 2021 | Serial | 5% | 114.435 | 2.40%
|
| $5,185,000 | 2022 | Serial | 5% | 115.12 | 2.62%
|
| $5,445,000 | 2023 | Serial | 5% | 115.428 | 2.83%
|
| $5.72 million | 2024 | Serial | 5% | 115.408 | 3.03%
|
| $6.01 million | 2025 | Serial | 5% | 115.293 | 3.20%
|
| $6,285,000 | 2026 | Serial | 5% | 113.642 | 3.38%
|
| $6,625,000 | 2027 | Serial | 5% | 112.11 | 3.55%
|
| $6,955,000 | 2028 | Serial | 5% | 111.131 | 3.66%
|
| $7,295,000 | 2029 | Serial | 5% | 110.426 | 3.74%
|
| $7,675,000 | 2030 | Serial | 5% | 109.726 | 3.82%
|
| $8.06 million | 2031 | Serial | 5% | 109.205 | 3.88%
|
| $4,985,000 | 2032 | Serial | 5% | 108.687 | 3.94%
|
| $5,245,000 | 2033 | Serial | 4% | 96.755 | 4.26%
|
| $5,465,000 | 2034 | Serial | 4.125% | 97.743 | 4.30%
|
| $10 million | 2038 | Term | 4.25% | 97.138 | 4.45%
|
| $35.35 million | 2041 | Term | 4.25% | 95.895 | 4.52%
|
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