Published on 8/12/2013 in the Prospect News Municipals Daily.
New Issue: Tufts Medical Center, Mass., offers up $100 million of taxable bonds
By Sheri Kasprzak
New York, Aug. 12 - Tufts Medical Center of Massachusetts sold $100 million of series 2013 taxable bonds, according to a pricing sheet.
The bonds (/BBB/BBB) were sold on a negotiated basis with Barclays and J.P. Morgan Securities LLC as the senior managers.
The deal included $25,602,000 of 10-year bonds, $14,398,000 of 15-year bonds and $60 million of 25-year bonds.
The 10-year bonds are due 2023 and have a 5.373% coupon priced at par, and the 15-year bonds are due 2028 and have a 6.323% coupon priced at par. The 25-year bonds are due 2038 and have a 7% coupon to yield 7.125%.
Proceeds will be used for general corporate purposes.
| Issuer: | Tufts Medical Center
|
| Issue: | Series 2013 taxable bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays and J.P. Morgan Securities LLC (lead)
|
| Ratings: | Standard & Poor's: BBB
|
| Fitch: BBB
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 13
|
|
|
| $25,602,000 10-year bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2023 | Term | 5.373% | 100
|
|
|
| $14,398,000 15-year bonds
|
| Maturity | Type | Coupon | Price
|
| Jan. 1, 2028 | Term | 6.323% | 100
|
|
|
| $60 million 25-year bonds
|
| Maturity | Type | Coupon | Yield
|
| Jan. 1, 2038 | Term | 7% | 7.125%
|
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