By Sheri Kasprzak
New York, April 23 - The Texas Children's Hospital priced $300 million in series 2008 variable-rate hospital revenue bonds Tuesday, according to an official statement released Wednesday.
The bonds (Aa2/AA/AA) include $100 million in series 2008-1 variable-rate demand bonds, $100 million in series 2008-2 variable-rate demand bonds and $100 million in series 2008-3 term-rate bonds.
All of the bonds are due Oct. 1, 2041 and were sold through the Harris County Health Facilities Development Corp.
The 2008-1 bonds bear interest at the weekly rate, the 2008-2 bonds at the daily rate and the 2008-3 bonds at the term rate. The initial rates could not be determined by press time Wednesday.
JPMorgan was the lead manager for the negotiated deal.
| Issuer: | Texas Children's Hospital
|
| Issue: | Series 2008 variable-rate hospital revenue bonds
|
| Amount: | $300 million
|
| Type: | Negotiated
|
| Underwriter: | JPMorgan (lead)
|
| Ratings: | Moody's: Aa2
|
| S&P: AA
|
| Fitch: AA
|
| Pricing date: | April 22
|
| Settlement date: | April 30
|
|
|
| Series 2008-1 bonds
|
| Amount: | $100 million
|
| Maturity: | Oct. 1, 2041
|
| Coupon: | Weekly
|
|
|
| Series 2008-2 bonds
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| Amount: | $100 million
|
| Maturity: | Oct. 1, 2041
|
| Coupon: | Daily
|
|
|
| Series 2008-3 bonds
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| Amount: | $100 million
|
| Maturity: | Oct. 1, 2041
|
| Coupon: | Term
|
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