Published on 9/12/2012 in the Prospect News Municipals Daily.
New Issue: Hospital Sisters Services, Ill., prices $145.67 million revenue and refunding bonds
By Sheri Kasprzak
New York, Sept. 12 - The Hospital Sisters Services Inc. priced $145,665,000 of series 2012 revenue and refunding bonds through the Wisconsin Health and Educational Facilities Authority and the Illinois Finance Authority.
The deal included $76.88 million of series 2012B Wisconsin HEFA revenue refunding bonds and $68,785,000 of series 2012C Illinois Finance revenue bonds.
The 2012B bonds are due 2013 to 2021 with 2% to 5% coupons. The 2012C bonds are due 2013 to 2021 with 2% to 5% coupons.
The bonds (/AA-/AA-) were sold through Bank of America Merrill Lynch.
Proceeds will be used to construct, equip, acquire and renovate health care facilities in Illinois, as well as to refund existing bonds issued by the Wisconsin authority.
Hospital Sisters is a healthcare system based in Springfield, Ill., with facilities in Illinois and Wisconsin.
| Issuer: | Hospital Sisters Services Inc.
|
| Issue: | Series 2012 revenue and refunding bonds
|
| Amount: | $145,665,000
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead); BMO Capital Markets LLC and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Sept. 12
|
| Settlement date: | Oct. 1
|
|
|
| $76.88 million series 2012B Wisconsin Health and Educational Facilities Authority revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $7,125,000 | 2013 | Serial | 2% | NRO
|
| $7,325,000 | 2014 | Serial | 4% | 106.146
|
| $7,615,000 | 2015 | Serial | 4% | 108.888
|
| $8,015,000 | 2016 | Serial | 5% | 114.825
|
| $8,385,000 | 2017 | Serial | 4% | 112.202
|
| $8,955,000 | 2018 | Serial | 5% | 118.059
|
| $9.35 million | 2019 | Serial | 4% | 111.894
|
| $9.81 million | 2020 | Serial | 5% | 118.153
|
| $10.3 million | 2021 | Serial | 5% | 118.208
|
|
|
| $68,785,000 Illinois Finance Authority series 2012C revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $6,495,000 | 2013 | Serial | 2% | NRO
|
| $6.68 million | 2014 | Serial | 3% | 104.231
|
| $6,945,000 | 2015 | Serial | 5% | 111.628
|
| $7.3 million | 2016 | Serial | 5% | 114.702
|
| $7.65 million | 2017 | Serial | 5% | 116.742
|
| $7.86 million | 2018 | Serial | 5% | 117.754
|
| $8,205,000 | 2019 | Serial | 5% | 117.904
|
| $8.61 million | 2020 | Serial | 5% | 117.761
|
| $9.04 million | 2021 | Serial | 5% | 117.776
|
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