Published on 1/22/2015 in the Prospect News Municipals Daily.
New Issue: Maryland Health brings $126.67 million Peninsula Regional Health bonds
By Sheri Kasprzak
New York, Jan. 22 – The Maryland Health and Education Facilities Authority sold $126,665,000 of series 2015 revenue bonds for the Peninsula Regional Medical Center, according to a pricing sheet.
The bonds (A2/A/) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2015 to 2034 with term bonds due in 2039 and 2045. The serial coupons range from 3% to 5% with yields from 0.3% to 3.01%. The 2039 bonds have a 5% coupon priced at 115.66 to yield 3.07% and the 2045 bonds have a 5% coupon priced at 114.955 to yield 3.15%.
Proceeds will be used to replace a transformer, renovate and equip operating and special procedures rooms, acquire equipment and acquire the components for an electronic medical records system.
| Issuer: | Maryland Health and Education Facilities Authority/Peninsula Regional Medical Center
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $126,665,000
|
| Type: | Negotiated
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| Underwriters: | Morgan Stanley & Co. LLC (lead), BofA Merrill Lynch and M&T Securities Inc. (co-managers)
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| Ratings: | Moody’s: A2
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| Standard & Poor’s: A
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| Pricing date: | Jan. 22
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| Settlement date: | Feb. 5
|
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $775,000 | 2015 | Serial | 3% | 101.093 | 0.30%
|
| $1.93 million | 2016 | Serial | 3% | 103.683 | 0.37%
|
| $1.99 million | 2017 | Serial | 5% | 110.34 | 0.66%
|
| $2.09 million | 2018 | Serial | 5% | 113.683 | 0.91%
|
| $2,195,000 | 2019 | Serial | 5% | 116.632 | 1.12%
|
| $2,305,000 | 2020 | Serial | 5% | 119.079 | 1.33%
|
| $2.42 million | 2021 | Serial | 5% | 120.687 | 1.59%
|
| $2.54 million | 2022 | Serial | 5% | 121.936 | 1.82%
|
| $2,665,000 | 2023 | Serial | 5% | 123.016 | 2.01%
|
| $2.8 million | 2024 | Serial | 5% | 123.862 | 2.18%
|
| $2.94 million | 2025 | Serial | 5% | 122.054 | 2.37%
|
| $3,085,000 | 2026 | Serial | 5% | 120.743 | 2.51%
|
| $3.24 million | 2027 | Serial | 5% | 119.539 | 2.64%
|
| $3.4 million | 2028 | Serial | 5% | 118.715 | 2.73%
|
| $3.57 million | 2029 | Serial | 5% | 118.078 | 2.80%
|
| $3.75 million | 2030 | Serial | 5% | 117.807 | 2.83%
|
| $3.94 million | 2031 | Serial | 5% | 117.266 | 2.89%
|
| $4,135,000 | 2032 | Serial | 5% | 116.817 | 2.94%
|
| $4.34 million | 2033 | Serial | 5% | 116.46 | 2.98%
|
| $4.56 million | 2034 | Serial | 5% | 116.192 | 3.01%
|
| $26,445,000 | 2039 | Term | 5% | 115.66 | 3.07%
|
| $41.55 million | 2045 | Term | 5% | 114.955 | 3.15%
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