By Sheri Kasprzak
New York, Jan. 21 - The Louisiana Local Government Environmental Facilities and Community Development Foundation sold on Thursday $319.52 million of series 2010 hospital revenue bonds for Woman's Hospital in Baton Rouge, said a pricing sheet.
The bonds (A3/BBB+/) were sold through Bank of America Merrill Lynch, with Morgan Keegan & Co. Inc. as the co-manager.
The sale included $233.14 million of series 2010A bonds and $86.38 million of series 2010B gulf opportunity zone project revenue bonds.
The 2010A bonds are due 2017 to 2020, with term bonds due 2025, 2030, 2040 and 2044. The serials have 5% coupons across the board. The 2025 bonds have a 5.5% coupon priced at 98.959, the 2030 bonds have a 5.625% coupon priced at 97.901, the 2040 bonds have a 5.875% coupons priced at 97.564 and the 2044 bonds have a 6% coupon priced at 97.85.
The 2010B bonds are due 2017 to 2020, with term bonds due 2025, 2030, 2040 and 2044. The coupons range from 4.5% to 6%.
Proceeds will be used to fund the construction of a five-story replacement hospital for Woman's Hospital.
| Issuer: | Louisiana Local Government Environmental Facilities and Community Development Foundation
|
| Issue: | Series 2010 hospital revenue bonds
|
| Amount: | $319.52 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead); Morgan Keegan & Co. Inc. (co-manager)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Pricing date: | Jan. 21
|
| Settlement date: | Feb. 10
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon | Price
|
| 2017 | Serial | 5% | 101.644
|
| 2018 | Serial | 5% | 99.924
|
| 2019 | Serial | 5% | 98.269
|
| 2020 | Serial | 5% | 96.944
|
| 2025 | Term | 5.5% | 98.959
|
| 2030 | Term | 5.625% | 97.901
|
| 2040 | Term | 5.875% | 97.564
|
| 2044 | Term | 6% | 97.85
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon | Price
|
| 2017 | Serial | 4.5% | 98.156
|
| 2018 | Serial | 5% | 99.577
|
| 2019 | Serial | 5% | 97.898
|
| 2020 | Serial | 5.25% | 98.552
|
| 2025 | Term | 5.5% | 98.346
|
| 2030 | Term | 5.75% | 98.214
|
| 2040 | Term | 6% | 97.932
|
| 2044 | Term | 6% | 97.85
|
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