Published on 1/23/2013 in the Prospect News Municipals Daily.
New Issue: Hillsborough Industrial Development, Fla., prices $164.54 million of hospital bonds
By Sheri Kasprzak
New York, Jan. 23 - The Hillsborough Industrial Development Authority sold $164.54 million of series 2013A hospital revenue refunding bonds for the Tampa General Hospital, according to a pricing sheet.
The bonds (A3) were sold through J.P. Morgan Securities LLC.
The bonds are due 2014 to 2024 with term bonds due in 2028, 2031, 2034 and 2043. The serial coupons range from 3% to 5%. The 2028 bonds have a 3.5% coupon priced at 98.694 and a 5% coupon priced at 114.415. The 2031 bonds have a 5% coupon priced at 113.651. The 2034 bonds have a 5% coupon priced at 112.141 and the 2043 bonds have a 4% coupon priced at 98.778.
Proceeds will be used to refund the authority's series 2003A revenue bonds.
| Issuer: | Hillsborough Industrial Development Authority/Tampa General Hospital
|
| Issue: | Series 2013A hospital revenue refunding bonds
|
| Amount: | $164.54 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), SunTrust Robinson Humphrey and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: A3
|
| Pricing date: | Jan. 23
|
| Settlement date: | Feb. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,695,000 | 2014 | Serial | 3% | 103.585
|
| $4,835,000 | 2015 | Serial | 4% | 107.495
|
| $870,000 | 2016 | Serial | 4% | 108.891
|
| $900,000 | 2017 | Serial | 4% | 110.163
|
| $940,000 | 2018 | Serial | 5% | 116.485
|
| $985,000 | 2019 | Serial | 5% | 117.493
|
| $1,035,000 | 2020 | Serial | 5% | 117.944
|
| $1,085,000 | 2021 | Serial | 5% | 118.201
|
| $1,135,000 | 2022 | Serial | 5% | 117.838
|
| $1,325,000 | 2023 | Serial | 5% | 117.93
|
| $1,865,000 | 2024 | Serial | 5% | 116.941
|
| $13,565,000 | 2028 | Term | 3.5% | 98.694
|
| $20 million | 2028 | Term | 5% | 114.415
|
| $29.85 million | 2031 | Term | 5% | 113.651
|
| $34,555,000 | 2034 | Term | 5% | 112.141
|
| $46.9 million | 2043 | Term | 4% | 98.778
|
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