Published on 11/13/2013 in the Prospect News Municipals Daily.
New Issue: Washington Township Health, Calif., sells $145.5 million of G.O. bonds
By Sheri Kasprzak
New York, Nov. 13 - The Washington Township Health Care District of California sold $145.5 million of series 2013 general obligation bonds, according to a pricing sheet.
The deal included $40.5 million of election of 2012 series 2013A G.O. bonds and $105 million of election of 2004 series 2013B G.O. bonds.
The 2013A bonds are due 2019 to 2033 with term bonds due in 2038, 2040 and 2043. The serial coupons range from 3% to 4.5% with yields from 2.04% to 4.63%. The 2038 bonds have a 4.75% coupon to yield 4.92% and a 5.5% coupon to yield 4.68%. The 2040 bonds have a 5.5% coupon to yield 4.75%. The 2043 bonds have a 5% coupon to yield 5.08%.
The 2013B bonds are due 2019 to 2033 with term bonds due in 2038, 2040 and 2043. The serial coupons range from 4% to 5% with 2.04% to 4.63% yields. The 2038 bonds have a 5.5% coupon to yield 4.68%, and the 2040 bonds have a 5.5% coupon to yield 4.75%. The 2043 bonds have a 5.08%.
The bonds (Aa3) were sold through BofA Merrill Lynch.
Proceeds will be used to expand emergency medical facilities, make seismic improvements for earthquake safety and provide other health care system upgrades within the township.
| Issuer: | Washington Township Health Care District, Calif.
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $145.5 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch (lead)
|
| Rating: | Moody's: Aa3
|
| Pricing date: | Nov. 6
|
| Settlement date: | Nov. 21
|
|
|
| $40.5 million election of 2012 series 2013A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $280,000 | 2019 | Serial | 3% | 2.04%
|
| $420,000 | 2020 | Serial | 3% | 2.43%
|
| $420,000 | 2021 | Serial | 3.5% | 2.79%
|
| $420,000 | 2022 | Serial | 3.5% | 3.03%
|
| $420,000 | 2023 | Serial | 4% | 3.26%
|
| $10,000 | 2027 | Serial | 4% | 3.99%
|
| $160,000 | 2028 | Serial | 4% | 4.14%
|
| $325,000 | 2029 | Serial | 4.125% | 4.27%
|
| $505,000 | 2030 | Serial | 4.25% | 4.39%
|
| $705,000 | 2031 | Serial | 4.25% | 4.48%
|
| $920,000 | 2032 | Serial | 4.5% | 4.57%
|
| $1.16 million | 2033 | Serial | 4.5% | 4.63%
|
| $1.37 million | 2038 | Term | 4.75% | 4.92%
|
| $8,855,000 | 2038 | Term | 5.5% | 4.68%
|
| $7,645,000 | 2040 | Term | 5.5% | 4.75%
|
| $16,885,000 | 2043 | Term | 5% | 5.08%
|
|
|
| $105 million election of 2004 series 2013B G.O. bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $720,000 | 2019 | Serial | 4% | 2.04%
|
| $1.08 million | 2020 | Serial | 5% | 2.43%
|
| $1.08 million | 2021 | Serial | 5% | 2.79%
|
| $1.08 million | 2022 | Serial | 4% | 3.03%
|
| $1.08 million | 2023 | Serial | 4% | 3.26%
|
| $20,000 | 2027 | Serial | 4% | 3.99%
|
| $410,000 | 2028 | Serial | 4% | 4.14%
|
| $835,000 | 2029 | Serial | 4.125% | 4.27%
|
| $1.31 million | 2030 | Serial | 5% | 4.39%
|
| $1,825,000 | 2031 | Serial | 5% | 4.48%
|
| $2.39 million | 2032 | Serial | 5% | 4.57%
|
| $3,005,000 | 2033 | Serial | 4.5% | 4.63%
|
| $26,515,000 | 2038 | Term | 5.5% | 4.68%
|
| $19.83 million | 2040 | Term | 5.5% | 4.75%
|
| $43.82 million | 2043 | Term | 5% | 5.08%
|
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