By Sheri Kasprzak
New York, Nov. 18 - The Tarrant County Cultural Education Facilities Finance Authority of Texas priced $157.55 million of series 2010 revenue bonds for Texas Health Resources System, according to an official statement released Thursday.
The bonds (Aa3/AA-/) were sold through Morgan Stanley & Co. Inc. and Bank of America Merrill Lynch.
The bonds are due Nov. 15, 2037 and Nov. 15, 2040. The 2037 bonds have a 5% coupon to yield 5.15%. The 2040 bonds have a 5% coupon to yield 5.25%.
Proceeds will be used to construct, develop, purchase, reconstruct and renovate health facilities operated by Texas Health Resources.
Based in Fort Worth, the authority provides funding for nonprofit health care and educational organizations. Texas Health is based in Arlington and operates 13 hospital and health care facilities in the Dallas-Fort Worth area.
| Issuer: | Tarrant County Cultural Education Facilities Finance Authority/Texas Health Resources System
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $157.55 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and Bank of America Merrill Lynch
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 23
|
|
|
| Amount | Maturity | Type | Coupon | Yield
|
| $20.22 million | Nov. 15, 2037 | Term | 5% | 5.15%
|
| $137.33 million | Nov. 15, 2040 | Term | 5% | 5.25%
|
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