By Sheri Kasprzak
New York, Oct. 5 - The Trinity Health Credit Group priced $648.66 million of series 2011 composite issue revenue and revenue refunding bonds on Wednesday, according to a pricing sheet.
The offering was comprised of $106.3 million of series 2011CA revenue and refunding bonds sold through the California Statewide Communities Development Authority; $14.485 million of series 2011OH revenue bonds sold through Franklin County, Ohio; $139.71 million of series 2011IL revenue bonds sold through the Illinois Finance Authority; $325.195 million of series 2011MI hospital revenue and refunding bonds issued through the Michigan Finance Authority; and $62.97 million of series 2011MD revenue and refunding bonds offered by Montgomery County, Md.
The bonds (Aa2/AA/AA) were sold through senior managers Goldman, Sachs & Co. and Bank of America Merrill Lynch. The co-managers for the Illinois bonds were Cabrera Capital Markets LLC and Loop Capital Markets LLC.
Proceeds will be used to advance or refund existing debt and pay for capital improvements to some of the hospital facilities operated by Trinity.
| Issuer: | Trinity Health Credit Group
|
| Issue: | Series 2011 composite issue revenue and revenue refunding bonds
|
| Amount: | $648.66 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Bank of America Merrill Lynch (lead), Cabrera Capital Markets LLC and Loop Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 20
|
|
|
| $106.3 million series 2011CA revenue and refunding bonds through California Statewide Communities Development
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2041 | Term | 5% | 100
|
|
|
| $14.485 million series 2011OH revenue bonds through Franklin County, Ohio
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2040 | Term | 5% | 100
|
|
|
| $139.71 million series 2011IL revenue bonds through Illinois Finance Authority
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.995 million | 2012 | Serial | 2% | 101.495
|
| $5.91 million | 2013 | Serial | 3% | 104.172
|
| $5.84 million | 2014 | Serial | 3% | 104.514
|
| $5.86 million | 2015 | Serial | 3% | 104.98
|
| $5.79 million | 2016 | Serial | 3% | 103.995
|
| $5.725 million | 2017 | Serial | 3% | 103.046
|
| $5.69 million | 2018 | Serial | 4% | 107.355
|
| $5.6 million | 2019 | Serial | 4% | 105.674
|
| $8.37 million | 2020 | Serial | 4% | 103.869
|
| $6.13 million | 2021 | Serial | 4% | 103.02
|
| $14.09 million | 2022 | Serial | 5% | 110.259
|
| $16.235 million | 2023 | Serial | 5% | 108.854
|
| $7.57 million | 2024 | Serial | 5% | 107.385
|
| $7.7 million | 2025 | Serial | 5% | 106.109
|
| $7.83 million | 2026 | Serial | 5% | 105.184
|
| $25.375 million | 2030 | Term | 5% | 100
|
|
|
| $325.195 million series 2011MI hospital revenue and refunding bonds through Michigan Finance Authority
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.835 million | 2031 | Term | 4.875% | 99.046
|
| $18.86 million | 2031 | Term | 5% | 100.388
|
| $30.02 million | 2035 | Term | 5% | 99.301
|
| $273.48 million | 2039 | Term | 5% | 98.509
|
|
|
| $62.97 million series 2011MD revenue and refunding bonds through Montgomery County, Md.
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.125 million | 2040 | Term | 4.75% | 100
|
| $61.845 million | 2040 | Term | 5% | 101.984
|
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