By Sheri Kasprzak
New York, Aug. 18 - The Tarrant County Cultural Educational Facilities Finance Corp. of Texas priced $172.425 million in series 2008A hospital revenue bonds for the Scott and White Memorial Hospital and Scott, Sherwood and Brindley Foundation Project.
The bonds (Aa3/AA-/) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the lead manager. The co-managers were Citigroup Global Markets and Goldman, Sachs & Co.
The bonds are due 2009 to 2019 with term bonds due 2023, 2028 and 2031. The serials have coupons from 4% to 5% and yields from 2.33% to 4.89%. The 2023 bonds have a 5% coupon to yield 5.25%, the 2028 bonds have a 5.25% coupon to yield 5.46% and the 2031 bonds have a 5.5% coupon to yield 5.61%.
Proceeds will be used to refund the corporation's outstanding series 2000B1, 2001-1 and 2001-2 revenue bonds.
| Issuer: | Tarrant County Cultural Educational Facilities Finance Corp.
|
| Issue: | Series 2008A hospital revenue bonds
|
| Amount: | $172.425 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Citigroup Global Markets and Goldman, Sachs & Co.
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 27
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 2.33%
|
| 2010 | Serial | 4% | 2.93%
|
| 2011 | Serial | 5% | 3.49%
|
| 2012 | Serial | 5% | 3.78%
|
| 2013 | Serial | 5% | 3.98%
|
| 2014 | Serial | 5% | 4.16%
|
| 2015 | Serial | 5% | 4.31%
|
| 2016 | Serial | 5% | 4.46%
|
| 2017 | Serial | 5% | 4.60%
|
| 2018 | Serial | 5% | 4.72%
|
| 2019 | Serial | 5% | 4.89%
|
| 2023 | Term | 5% | 5.25%
|
| 2028 | Term | 5.25% | 5.46%
|
| 2031 | Term | 5.5% | 5.61%
|
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