Published on 7/10/2013 in the Prospect News Municipals Daily.
New Issue: Methodist Hospitals of Dallas brings $188.54 million of hospital bonds
By Sheri Kasprzak
New York, July 10 - The Tarrant County Cultural Education Facilities Finance Corp. of Texas sold $188.54 million of series 2013 hospital revenue bonds for the Methodist Hospitals of Dallas, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through BofA Merrill Lynch.
The bonds are due 2014 to 2029 with term bonds due in 2031, 2038, 2040 and 2043. The serial coupons range from 2% to 5%. The 2031 bonds have a 4.5% coupon priced at 98.166 and a 5.25% coupon that was not reoffered. The 2038 bonds have a 4.75% coupon priced at 98.548. The 2040 bonds have a 4.75% coupon priced at 97.606. The 2043 bonds have a 5% coupon priced at 98.764 and a 5.25% coupon that was not reoffered.
Proceeds will be used to construct a new six-floor trauma/critical care tower at the Methodist Dallas, as well as new operating rooms and other hospital facilities.
| Issuer: | Tarrant County Cultural Education Facilities Finance Corp./Methodist Hospitals of Dallas
|
| Issue: | Series 2013 hospital revenue bonds
|
| Amount: | $188.54 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Estrada Hinojosa & Co. Inc., BOSC Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | July 10
|
| Settlement date: | July 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3 million | 2014 | Serial | 2% | NRO
|
| $2.34 million | 2015 | Serial | 3% | 104.862
|
| $5,145,000 | 2016 | Serial | 4% | 108.489
|
| $5,225,000 | 2017 | Serial | 5% | 113.138
|
| $5.52 million | 2018 | Serial | 4% | 108.974
|
| $6,215,000 | 2019 | Serial | 5% | 113.868
|
| $6,685,000 | 2020 | Serial | 5% | 113.317
|
| $7,255,000 | 2021 | Serial | 5% | 112.634
|
| $7,755,000 | 2022 | Serial | 5% | 111.939
|
| $8,365,000 | 2023 | Serial | 5% | 111.571
|
| $8.92 million | 2024 | Serial | 5% | NRO
|
| $9.68 million | 2025 | Serial | 5% | NRO
|
| $5 million | 2026 | Serial | 4% | NRO
|
| $5.15 million | 2026 | Serial | 5% | NRO
|
| $10.64 million | 2027 | Serial | 5% | NRO
|
| $10,905,000 | 2028 | Serial | 5% | NRO
|
| $2 million | 2029 | Serial | 4.375% | 98.455
|
| $9,755,000 | 2029 | Serial | 5.25% | NRO
|
| $2.5 million | 2031 | Term | 4.5% | 98.166
|
| $22.83 million | 2031 | Term | 5.25% | NRO
|
| $1.83 million | 2038 | Term | 4.75% | 98.548
|
| $5 million | 2040 | Term | 4.75% | 97.606
|
| $20 million | 2043 | Term | 5% | 98.764
|
| $16,825,000 | 2043 | Term | 5.25% | NRO
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
