New Issue: Indiana Finance prices $53.5 million of Major Hospital revenue bonds

By Sheri Kasprzak

New York, Sept. 24 – The Indiana Finance Authority sold $53,505,000 of series 2014A hospital revenue bonds for Major Hospital, said a pricing sheet.

The bonds (Baa2//BBB+) were sold through Piper Jaffray & Co.

The bonds are due 2017 to 2026 with term bonds due in 2029, 2034 and 2044. The serial coupons range from 3.5% to 5% with yields from 1.22% to 3.80%. The 2029 bonds have a 5% coupon priced at 108.502 to yield 3.87%. The 2034 bonds have a 4.25% coupon priced at 98.41 to yield 4.37%, and the 2044 bonds have a 5% coupon priced at 104.41 to yield 4.40%.

Proceeds will be used to finance the costs of constructing, acquiring, equipping and furnishing a replacement hospital for Major Hospital in Shelbyville, Ind.

Issuer:	Indiana Finance Authority/Major Hospital
Issue:	Series 2014A hospital revenue bonds
Amount:	$53,505,000
Type:	Negotiated
Underwriter:	Piper Jaffray & Co.
Ratings:	Moody’s: Baa2
	Fitch: BBB+
Pricing date:	Sept. 24
Settlement date:	Oct. 8
Amount	Maturity	Type	Coupon	Price	Yield
$1 million	2017	Serial	4%	108.112	1.22%
$1.04 million	2018	Serial	4%	109.219	1.60%
$1,085,000	2019	Serial	4%	109.435	2.00%
$1,125,000	2020	Serial	4%	108.864	2.40%
$1.17 million	2021	Serial	4%	107.823	2.76%
$1.22 million	2022	Serial	5%	113.644	3.06%
$1.28 million	2023	Serial	5%	113.119	3.30%
$1,345,000	2024	Serial	5%	111.554	3.49%
$1.41 million	2025	Serial	3.5%	98.03	3.72%
$1.46 million	2026	Serial	3.5%	97.133	3.80%
$4.76 million	2029	Term	5%	108.502	3.87%
$9.52 million	2034	Term	4.25%	98.41	4.37%
$27.09 million	2044	Term	5%	104.41	4.40%

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