Published on 5/6/2014 in the Prospect News Municipals Daily.
New Issue: UnityPoint Health prices $162.9 million health facilities revenue bonds
By Sheri Kasprzak
New York, May 6 - UnityPoint Health sold $162.9 million of series 2014 health facilities revenue bonds through the Wisconsin Health and Educational Facilities Authority and the Iowa Finance Authority, said a pricing sheet.
The deal included $93,095,000 of series 2014A bonds through Wisconsin Health and $69,805,000 of series 2014C bonds through Iowa Finance.
The 2014A bonds are due 2014 to 2029 with 1% to 5% coupons. The 2014C bonds are due 2030 to 2035 with 4% to 5% coupons.
The bonds (Aa3/P-1//AA-/F1+) were sold through J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
Proceeds will be used to refinance the debt of Meriter Health Services Inc. and refund the authority's series 2005A bonds.
| Issuer: | Wisconsin Health and Educational Facilities Authority/Iowa Finance Authority/UnityPoint Health
|
| Issue: | Series 2014 health facilities revenue bonds
|
| Amount: | $162.9 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead)
|
| Ratings: | Moody's: Aa3/P-1
|
| Fitch: AA-/F1+
|
| Pricing date: | May 6
|
| Settlement date: | May 21
|
|
|
| $93,095,000 series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.09 million | 2014 | Serial | 1% | 100.442
|
| $4 million | 2015 | Serial | 3% | 104.065
|
| $4.01 million | 2016 | Serial | 5% | 110.994
|
| $4,125,000 | 2017 | Serial | 5% | 114.017
|
| $4.28 million | 2018 | Serial | 5% | 115.74
|
| $4,495,000 | 2019 | Serial | 5% | 116.536
|
| $4.68 million | 2020 | Serial | 5% | 117.005
|
| $4,925,000 | 2021 | Serial | 5% | 117.057
|
| $5.02 million | 2022 | Serial | 5% | 117.414
|
| $5,415,000 | 2023 | Serial | 5% | 117.645
|
| $5.69 million | 2024 | Serial | 5% | 117.621
|
| $7,565,000 | 2025 | Serial | 5% | 115.968
|
| $7.89 million | 2026 | Serial | 5% | 114.818
|
| $8.3 million | 2027 | Serial | 5% | 113.965
|
| $8.9 million | 2028 | Serial | 5% | 113.4
|
| $9.71 million | 2029 | Serial | 5% | 112.559
|
|
|
| $69,805,000 series 2014C bonds through Iowa Finance Authority
|
| Amount | Maturity | Type | Coupon | Price
|
| $108,855,000 | 2030 | Serial | 5% | 111.143
|
| $11.16 million | 2031 | Serial | 5% | 110.452
|
| $11.47 million | 2032 | Serial | 5% | 109.767
|
| $11.76 million | 2033 | Serial | 4% | 98.954
|
| $12.11 million | 2034 | Serial | 4% | 98.119
|
| $12.45 million | 2035 | Serial | 4.125% | 98.963
|
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