Published on 4/4/2016 in the Prospect News Municipals Daily.
New Issue: Tampa, Fla., prices $200 million of Baycare Health System revenue bonds
By Sheri Kasprzak
New York, April 4 – The City of Tampa, Fla., priced $200 million of series 2016A health system revenue bonds for the Baycare Health System, according to a pricing sheet.
The bonds (Aa2) were sold through senior managers Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC.
The bonds are due 2024 to 2037 with a term bond due in 2046. The serial coupons range from 3.125% to 5% and yields range from 1.93% to 3.44%. The 2046 bonds have a 4% coupon priced at 103.356 to yield 3.6% and the 5% coupon priced at 116.068 to yield 3.13%.
Proceeds will be used to finance capital projects for the health system.
| Issuer: | Tampa, Fla./Baycare Health System
|
| Issue: | Series 2016A health system revenue bonds
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| Amount: | $200 million
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| Type: | Negotiated
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| Underwriters: | Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead)
|
| Rating: | Moody’s: Aa2
|
| Pricing date: | March 29
|
| Settlement date: | April 13
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $975,000 | 2024 | Serial | 4% | 116.309 | 1.93%
|
| $1.02 million | 2025 | Serial | 4% | 116.516 | 2.09%
|
| $1,085,000 | 2026 | Serial | 5% | 124.899 | 2.23%
|
| $1,165,000 | 2027 | Serial | 5% | 123.576 | 2.36%
|
| $1.3 million | 2028 | Serial | 5% | 122.569 | 2.46%
|
| $1,345,000 | 2029 | Serial | 5% | 121.869 | 2.53%
|
| $1.44 million | 2030 | Serial | 5% | 121.373 | 2.58%
|
| $1.52 million | 2031 | Serial | 5% | 120.584 | 2.66%
|
| $1,675,000 | 2032 | Serial | 5% | 119.898 | 2.73%
|
| $1.82 million | 2033 | Serial | 5% | 119.314 | 2.79%
|
| $2 million | 2034 | Serial | 3.125% | 97.173 | 3.33%
|
| $2,045,000 | 2035 | Serial | 3.125% | 96.645 | 3.36%
|
| $2.14 million | 2036 | Serial | 3.25% | 97.789 | 3.40%
|
| $2.21 million | 2037 | Serial | 3.25% | 97.119 | 3.44%
|
| $100 million | 2046 | Term | 4% | 103.356 | 3.60%
|
| $78.26 million | 2046 | Term | 5% | 116.068 | 3.13%
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