By Sheri Kasprzak
New York, Oct. 14 - The Tyler Health Facilities Development Corp. priced $51.735 million of series 2011 hospital revenue bonds for the Mother Frances Regional Health Care Center, according to a pricing sheet.
The bonds (Baa1//BBB) were sold through Bank of America Merrill Lynch.
The bonds are due 2021 to 2023 with a term bond due in 2027. The serial coupons range from 5% to 5.25%. The 2027 bonds have a 5.5% coupon priced at 98.957.
Proceeds will be used to construct and equip the Louis and Peaches Owen Heart Hospital, remodel existing hospital facilities and refinance existing debt.
| Issuer: | Tyler Health Facilities Development Corp./Mother Frances Regional Health Care Center
|
| Issue: | Series 2011 hospital revenue bonds
|
| Amount: | $51.735 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: Baa1
|
| Fitch: BBB
|
| Pricing date: | Oct. 13
|
| Settlement date: | Nov. 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.39 million | 2021 | Serial | 5% | 99.614
|
| $6.73 million | 2022 | Serial | 5.125% | 99.465
|
| $6.895 million | 2023 | Serial | 5.25% | 99.475
|
| $31.72 million | 2027 | Term | 5.5% | 98.957
|
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