Published on 11/9/2015 in the Prospect News Municipals Daily.
New Issue: Washington Township Health, Calif., brings $145.5 million of G.O. bonds
By Sheri Kasprzak
New York, Nov. 9 – The Washington Township Health Care District of California sold $145.5 million of series 2015B general obligation bonds, according to a pricing sheet.
The bonds (Aa3) were sold through BofA Merrill Lynch.
The bonds are due 2027 to 2035 with term bonds due in 2040 and 2045. The serial coupons range from 3% to 3.5% with 2.87% to 3.7% yields. The 2040 bonds have a 3.75% coupon priced at 97.63 to yield 3.9%, a 4% coupon priced at 100.796 to yield 3.9% and a 4% coupon priced at 100.234 to yield 3.97%. The 2045 bonds have a 4% coupon priced at 100.234 to yield 3.97% and a 5% coupon priced at 112.771 to yield 3.44%.
Proceeds will be used to expand and improve the district’s emergency and intensive care departments, as well as other facilities.
| Issuer: | Washington Township Health Care District
|
| Issue: | Series 2015B general obligation bonds
|
| Amount: | $145.5 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Rating: | Moody’s: Aa3
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $345,000 | 2027 | Serial | 3% | 101.091 | 2.87%
|
| $655,000 | 2028 | Serial | 3% | 100 | 3.00%
|
| $990,000 | 2029 | Serial | 3% | 98.447 | 3.14%
|
| $1,345,000 | 2030 | Serial | 3% | 96.979 | 3.26%
|
| $1.73 million | 2031 | Serial | 3.25% | 98.183 | 3.40%
|
| $2.15 million | 2032 | Serial | 3.25% | 96.978 | 3.49%
|
| $2.6 million | 2033 | Serial | 3.375% | 97.197 | 3.59%
|
| $3.07 million | 2034 | Serial | 3.5% | 97.843 | 3.66%
|
| $3.61 million | 2035 | Serial | 3.5% | 97.215 | 3.70%
|
| $10 million | 2040 | Term | 3.75% | 97.63 | 3.90%
|
| $17,965,000 | 2040 | Term | 4% | 100.796 | 3.90%
|
| $17,965,000 | 2040 | Term | 4% | 100.234 | 3.97%
|
| $86.04 million | 2045 | Term | 4% | 100.234 | 3.97%
|
| $15 million | 2045 | Term | 5% | 112.771 | 3.44%
|
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