By Sheri Kasprzak
New York, June 18 – The South Dakota Health and Educational Facilities Authority sold $58.75 million of series 2014 revenue bonds for Avera Health, according to a pricing sheet.
The bonds (/AA-/) were sold through BofA Merrill Lynch and Dougherty & Co. LLC.
The bonds are due 2041 and 2044 with a 4.125% coupon priced at 97.845 to yield 4.26% and a 5% coupon priced at 108.012 to yield 4.02%, respectively.
Proceeds will be used to finance the construction of a professional medical services building as well as the replacement of a retirement community in Sioux Falls.
| Issuer: | South Dakota Health and Educational Facilities Authority/Avera Health
|
| Issue: | Series 2014 revenue bonds
|
| Amount: | $58.75 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Dougherty & Co. LLC (lead)
|
| Rating: | Standard & Poor’s: AA-
|
| Pricing date: | June 18
|
| Settlement date: | June 26
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $16,085,000 | 2041 | Term | 4.125% | 97.845 | 4.26%
|
| $42,665,000 | 2044 | Term | 5% | 108.012 | 4.02%
|
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