By Sheri Kasprzak
New York, Sept. 14 - Torrance, Calif., brought $135 million of series 2010A revenue bonds for Torrance Memorial Medical Center on Tuesday, according to a term sheet.
The bonds (A2/A+/) were sold through Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
The bonds are due 2016 to 2025 with term bonds due 2030 and 2040. Coupons range from 3% to 5%. The full pricing terms were not immediately available.
Proceeds will be used to finance and reimburse the medical center for certain of its health care facilities.
| Issuer: | Torrance, Calif./Torrance Memorial Medical Center
|
| Issue: | Series 2010A revenue bonds
|
| Amount: | $135 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Pricing date: | Sept. 14
|
|
|
| Maturity | Type | Coupon
|
| 2016 | Serial | 3%
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 4%
|
| 2022 | Serial | 4%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 4.125%
|
| 2024 | Serial | 4.25%
|
| 2025 | Serial | 4.25%
|
| 2030 | Term | 4.75%
|
| 2030 | Term | 5%
|
| 2040 | Term | 5%
|
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