Published on 6/4/2014 in the Prospect News Municipals Daily.
New Issue: Decatur Hospital Authority, Texas, sells $95.67 million revenue bonds for Wise Health
By Sheri Kasprzak
New York, June 4 - The Decatur Hospital Authority of Texas priced $95.67 million of series 2014A hospital revenue bonds for the Wise Regional Health System, according to a pricing sheet.
The bonds (/BB+/BB+) were sold through BofA Merrill Lynch and Cain Brothers.
The bonds are due 2019 to 2024 with term bonds due in 2029, 2034 and 2044. The serial coupons range from 4% to 5%. The 2029 bonds have a 5.25% coupon priced at 103.992 and the 2034 bonds have a 5% coupon priced at 99.364. The 2044 bonds have a 5.25% coupon priced at 99.243.
Proceeds will be used to construct, equip and improve hospital facilities, as well as refund the authority's series 2004A revenue bonds.
| Issuer: | Decatur Hospital Authority, Texas/Wise Regional Health System
|
| Issue: | Series 2014A hospital revenue bonds
|
| Amount: | $95.67 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Cain Brothers (leads)
|
| Ratings: | Standard & Poor's: BB+
|
| Fitch: BB+
|
| Pricing date: | June 4
|
| Settlement date: | June 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,225,000 | 2019 | Serial | 5% | 112.079
|
| $1.37 million | 2020 | Serial | 4% | 105.717
|
| $1,425,000 | 2021 | Serial | 5% | 109.516
|
| $1,495,000 | 2022 | Serial | 5% | 107.637
|
| $1.57 million | 2023 | Serial | 5% | 106.587
|
| $1.65 million | 2024 | Serial | 5% | 105.802
|
| $9.62 million | 2029 | Term | 5.25% | 103.992
|
| $16.76 million | 2034 | Term | 5% | 99.364
|
| $60,555,000 | 2044 | Term | 5.25% | 99.243
|
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