Published on 2/5/2014 in the Prospect News Municipals Daily.
New Issue: Cook Children's Medical Center, Texas, prices $166.01 million of debt
By Sheri Kasprzak
New York, Feb. 5 - The Tarrant County Cultural Education Facilities Finance Corp. of Texas sold $166,005,000 of series 2014 hospital revenue bonds for the Cook Children's Medical Center, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through senior managers J.P. Morgan Securities LLC and Goldman, Sachs & Co.
The bonds are due 2014 to 2034 with term bonds due in 2039 and 2044. The serial coupons range from 3% to 5%. The 2039 bonds have a 5% coupon priced at 104.308 and the 2044 bonds have a 5% coupon priced at 103.587.
Proceeds will be used to finance the construction of a south tower to include a new emergency room, surgical suites, patient rooms and other facilities.
| Issuer: | Tarrant County Cultural Education Facilities Finance Corp., Texas/Cook Children's Medical Center
|
| Issue: | Series 2014 hospital revenue bonds
|
| Amount: | $166,005,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Goldman, Sachs & Co. (lead), Raymond James/Morgan Keegan (co-manager)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,535,000 | 2014 | Serial | 3% | 102.143
|
| $2,585,000 | 2015 | Serial | 4% | 106.355
|
| $2.65 million | 2016 | Serial | 5% | 112.105
|
| $2,745,000 | 2017 | Serial | 5% | 114.996
|
| $2.87 million | 2018 | Serial | 5% | 116.815
|
| $2.99 million | 2019 | Serial | 5% | 117.606
|
| $3,095,000 | 2020 | Serial | 5% | 117.559
|
| $3.24 million | 2021 | Serial | 5% | 117.527
|
| $3,405,000 | 2022 | Serial | 5% | 116.809
|
| $3.58 million | 2023 | Serial | 5% | 116.071
|
| $3.76 million | 2024 | Serial | 5% | 114.528
|
| $3,955,000 | 2025 | Serial | 5% | 112.656
|
| $4,155,000 | 2026 | Serial | 5% | 111.69
|
| $4.37 million | 2027 | Serial | 5% | 110.82
|
| $4,595,000 | 2028 | Serial | 5% | 110.13
|
| $4.83 million | 2029 | Serial | 5% | 108.935
|
| $5.08 million | 2030 | Serial | 5% | 108.175
|
| $5.34 million | 2031 | Serial | 5% | 107.422
|
| $5.61 million | 2032 | Serial | 5% | 106.757
|
| $5.9 million | 2033 | Serial | 5% | 106.097
|
| $6,205,000 | 2034 | Serial | 5% | 105.687
|
| $36.12 million | 2039 | Term | 5% | 104.308
|
| $46.39 million | 2044 | Term | 5% | 103.587
|
© 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.
