Published on 6/26/2015 in the Prospect News Municipals Daily.
New Issue: Winchester Economic, Va., brings $114.93 million of Valley Health bonds
By Sheri Kasprzak
New York, June 26 – The Winchester Economic Development Authority of Virginia sold $114,925,000 of series 2015 hospital revenue refunding bonds for Valley Health System Obligated Group, according to a pricing sheet.
The bonds (A1/A+/) were sold through Ziegler Inc.
The bonds are due 2016 to 2035 with term bonds due in 2037 and 2044. The serial coupons range from 2% to 5% with 0.50% to 3.76% yields. The 2037 bonds have a 4% coupon priced at 98.58 to yield 4.10%. The 2044 bonds have a 5% coupon priced at 108.91 to yield 3.95%.
Proceeds will be used to refund the obligated group’s series 2007 and 2009E revenue bonds.
| Issuer: | Winchester Economic Development Authority/Valley Health System Obligated Group
|
| Issue: | Series 2015 hospital revenue refunding bonds
|
| Amount: | $114,925,000
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Inc.
|
| Ratings: | Moody’s: A1
|
| Standard & Poor’s: A+
|
| Pricing date: | June 25
|
| Settlement date: | July 22
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $435,000 | 2016 | Serial | 2% | 100.66 | 0.50%
|
| $125,000 | 2017 | Serial | 3% | 102.986 | 0.91%
|
| $1.32 million | 2018 | Serial | 3% | 104.072 | 1.30%
|
| $1.33 million | 2019 | Serial | 4% | 108.179 | 1.55%
|
| $1.45 million | 2020 | Serial | 4% | 109.171 | 1.84%
|
| $1,405,000 | 2021 | Serial | 5% | 114.726 | 2.12%
|
| $1.47 million | 2022 | Serial | 5% | 115.43 | 2.40%
|
| $1,545,000 | 2023 | Serial | 5% | 115.995 | 2.62%
|
| $1.63 million | 2024 | Serial | 5% | 116.436 | 2.80%
|
| $1.64 million | 2025 | Serial | 5% | 116.694 | 2.96%
|
| $1,665,000 | 2026 | Serial | 5% | 116.641 | 3.12%
|
| $1.7 million | 2027 | Serial | 5% | 115.292 | 3.26%
|
| $1,745,000 | 2028 | Serial | 5% | 114.056 | 3.39%
|
| $1,815,000 | 2029 | Serial | 5% | 113.023 | 3.50%
|
| $1,895,000 | 2030 | Serial | 5% | 112.371 | 3.57%
|
| $8,685,000 | 2031 | Serial | 5% | 112 | 3.61%
|
| $9.13 million | 2032 | Serial | 5% | 111.539 | 3.66%
|
| $9.6 million | 2033 | Serial | 5% | 111.081 | 3.71%
|
| $10.09 million | 2034 | Serial | 5% | 110.898 | 3.73%
|
| $10.61 million | 2035 | Serial | 5% | 110.624 | 3.76%
|
| $17.96 million | 2037 | Term | 4% | 98.58 | 4.10%
|
| $27.68 million | 2044 | Term | 5% | 108.91 | 3.95%
|
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