Published on 4/18/2012 in the Prospect News Municipals Daily.
New Issue: Tampa, Fla., prices $74.8 million revenue bonds for Baycare Health
By Sheri Kasprzak
New York, April 18 - The City of Tampa, Fla., sold $74,795,000 of series 2012A health system revenue bonds for the Baycare Health System, according to a pricing sheet.
The bonds (Aa2//AA) were sold through Morgan Stanley & Co. LLC with Raymond James/Morgan Keegan as the co-manager.
The bonds are due 2013 to 2029 with term bonds due in 2032 and 2042. The serial coupons range from 3% to 4.5%. The 2032 bonds have a 5% coupon priced at 101.955, and the 2042 bonds have a 5.25% coupon priced at 103.116.
Proceeds will be used to finance or refinance capital improvements to the health system's affiliate hospitals and health care facilities, as well as to refund existing bonds.
| Issuer: | City of Tampa/Baycare Health System
|
| Issue: | Series 2012A health system revenue bonds
|
| Amount: | $74,795,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Raymond James/Morgan Keegan (co-manager)
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA
|
| Pricing date: | April 18
|
| Settlement date: | May 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.21 million | 2013 | Serial | 3% | 101.658
|
| $2,005,000 | 2014 | Serial | 4% | 104.459
|
| $2,085,000 | 2015 | Serial | 4% | 105.759
|
| $2.18 million | 2016 | Serial | 4% | 106.18
|
| $2.25 million | 2017 | Serial | 5% | 110.867
|
| $2.37 million | 2018 | Serial | 3% | 100.268
|
| $2,445,000 | 2019 | Serial | 5% | 110.698
|
| $2,565,000 | 2020 | Serial | 5% | 110.294
|
| $2,685,000 | 2021 | Serial | 5% | 109.717
|
| $2.82 million | 2022 | Serial | 5% | 108.887
|
| $2.97 million | 2023 | Serial | 4.5% | 104.725
|
| $3.1 million | 2024 | Serial | 4.25% | 101.617
|
| $3,235,000 | 2025 | Serial | 4.25% | 100.803
|
| $2.94 million | 2026 | Serial | 4.25% | 100
|
| $3,065,000 | 2027 | Serial | 4.25% | 99.559
|
| $3,195,000 | 2028 | Serial | 4.5% | 101.034
|
| $3,345,000 | 2029 | Serial | 4.5% | 100.553
|
| $7.36 million | 2032 | Term | 5% | 101.955
|
| $22.97 million | 2042 | Term | 5.25% | 103.116
|
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