Published on 7/19/2016 in the Prospect News Municipals Daily.
New Issue: Public Finance, Wis., brings $137.18 million of Renown Medical bonds
By Sheri Kasprzak
New York, July 19 – The Public Finance Authority of Wisconsin sold $137.18 million of series 2016A hospital revenue refunding bonds for Renown Regional Medical Center, according to a pricing sheet.
The bonds (A2/A) were sold through BofA Merrill Lynch.
The bonds are due 2019 to 2036 with a term bond due in 2040. The serial coupons range from 4% to 5% with yields from 0.99% to 3.13%. The 2040 bonds have a 5% coupon priced at 119.381 to yield 2.74%.
Proceeds will be used to refund the medical center’s series 2004A, 2004C and 2005A-B revenue bonds.
| Issuer: | Public Finance Authority/Renown Regional Medical Center
|
| Issue: | Series 2016A hospital revenue refunding bonds
|
| Amount: | $137.18 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Pricing date: | July 13
|
| Settlement date: | July 27
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,225,000 | 2019 | Serial | 4% | 108.42 | 0.99%
|
| $3,225,000 | 2020 | Serial | 4% | 110.726 | 1.14%
|
| $3.83 million | 2021 | Serial | 5% | 117.315 | 1.30%
|
| $4,125,000 | 2022 | Serial | 5% | 119.512 | 1.50%
|
| $4,345,000 | 2023 | Serial | 5% | 121.595 | 1.65%
|
| $4,505,000 | 2024 | Serial | 5% | 123.228 | 1.81%
|
| $4.76 million | 2025 | Serial | 5% | 124.664 | 1.95%
|
| $5.8 million | 2026 | Serial | 5% | 125.464 | 2.12%
|
| $6,015,000 | 2027 | Serial | 5% | 124.159 | 2.25%
|
| $6,265,000 | 2028 | Serial | 5% | 123.463 | 2.32%
|
| $4,805,000 | 2029 | Serial | 5% | 122.968 | 2.37%
|
| $4.5 million | 2030 | Serial | 5% | 122.476 | 2.42%
|
| $4,635,000 | 2031 | Serial | 5% | 121.986 | 2.47%
|
| $6.58 million | 2032 | Serial | 5% | 121.499 | 2.52%
|
| $6,895,000 | 2033 | Serial | 5% | 121.207 | 2.55%
|
| $7.21 million | 2034 | Serial | 5% | 120.53 | 2.62%
|
| $7.55 million | 2035 | Serial | 4% | 108.822 | 2.96%
|
| $7.83 million | 2036 | Serial | 3% | 98.086 | 3.13%
|
| $41.08 million | 2040 | Term | 5% | 119.381 | 2.74%
|
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