Published on 8/21/2014 in the Prospect News Municipals Daily.
New Issue: Washington Health Care brings $92.25 million of Providence Health bonds
By Sheri Kasprzak
New York, Aug. 21 – The Washington Health Care Facilities Authority sold $92,245,000 of series 2014C revenue bonds for Providence Health & Services, according to a pricing sheet.
The bonds (Aa3/AA-/AA) were sold through senior manager BofA Merrill Lynch.
The bonds are due Oct. 1, 2044 and have a 4% coupon priced at 99.133 and a 5% coupon priced at 111.277.
Proceeds will be used to finance capital projects for the health system.
| Issuer: | Washington Health Care Facilities Authority/Providence Health & Services
|
| Issue: | Series 2014C revenue bonds
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| Amount: | $92,245,000
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| Type: | Negotiated
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| Underwriter: | BofA Merrill Lynch (lead)
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| Ratings: | Moody’s: Aa3
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| Standard & Poor’s: AA-
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| Fitch: AA
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| Pricing date: | Aug. 21
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| Settlement date: | Sept. 10
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| Amount | Maturity | Type | Coupon | Price
|
| $25 million | Oct. 1, 2044 | Term | 4% | 99.133
|
| $67,245,000 | Oct. 1, 2044 | Term | 5% | 111.277
|
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