By Sheri Kasprzak
New York, Oct. 19 - The Monroe County Industrial Development Corp. of New York sold $205.25 million in series 2010 FHA-insured mortgage revenue bonds on Friday for the Unity Hospital of Rochester, according to a term sheet released Tuesday.
The bonds (Aa2) were sold through J.P. Morgan Securities LLC.
The bonds are due 2015 to 2023 with term bonds due 2025, 2030, 2035 and 2040. The serial coupons range from 4% to 5.5%. The 2025 bonds have a 4.2% coupon priced at 99.776. The 2030 bonds have a 5.75% coupon priced at 111.32. The 2035 bonds have a 5.75% coupon priced at 109.756, and the 2040 bonds have a 5.5% coupon priced at 106.706.
Proceeds will be used to renovate all existing hospital rooms at Unity Hospital of Rochester, construct and equip a fourth floor to the hospital to house 75 additional beds, construct a new cafeteria, renovate the existing cafeteria space and make other renovations and improvements.
| Issuer: | Monroe County Industrial Development Corp./Unity Hospital of Rochester
|
| Issue: | Series 2010 FHA-insured mortgage revenue bonds
|
| Amount: | $205.25 million
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Rating: | Moody's: Aa2
|
| Pricing date: | Oct. 15
|
| Settlement date: | Nov. 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.68 million | 2015 | Serial | 4% | 107.366
|
| $1.27million | 2015 | Serial | 5% | 111.109
|
| $1.77 million | 2016 | Serial | 4% | 107.295
|
| $1.71 million | 2016 | Serial | 5% | 111.865
|
| $1.815 million | 2017 | Serial | 5% | 112.152
|
| $1.86 million | 2017 | Serial | 5% | 112.702
|
| $1 million | 2018 | Serial | 4.5% | 108.782
|
| $2.01 million | 2019 | Serial | 5% | 111.607
|
| $2.13 million | 2020 | Serial | 5% | 110.954
|
| $2.225 million | 2021 | Serial | 5% | 110.125
|
| $2.295 million | 2021 | Serial | 5% | 110.125
|
| $2.355 million | 2022 | Serial | 5% | 108.793
|
| $2.4 million | 2022 | Serial | 5% | 108.793
|
| $9 million | 2023 | Serial | 5.5% | 106.234
|
| $9.515 million | 2025 | Term | 4.2% | 99.776
|
| $43 million | 2030 | Term | 5.75% | 111.32
|
| $42 million | 2035 | Term | 5.75% | 109.756
|
| $77.215 million | 2040 | Term | 5.5% | 106.706
|
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