Published on 6/23/2015 in the Prospect News Municipals Daily.
New Issue: California Statewide sells $187.5 million Adventist Health revenue debt
By Sheri Kasprzak
New York, June 23 – The California Statewide Communities Development Authority sold $187.5 million of series 2015A revenue bonds for the Adventist Health Systems West, said a pricing sheet.
The bonds (/A/A) were sold through Ziegler Capital Inc. and Wells Fargo Securities LLC.
The bonds are due 2016 to 2035 with term bonds due in 2044 and 2045. The serial coupons range from 2% to 5%. The 2044 bonds have a 4.375% coupon priced at 97.992, and the 2045 bonds have a 5% coupon priced at 107.888.
Proceeds will be used to finance a loan to the health system for the renovation, improvement, construction and acquisition of health facilities projects, as well as to refund existing health system debt.
| Issuer: | California Statewide Communities Development Authority/Adventist Health Systems West
|
| Issue: | Series 2015A revenue bonds
|
| Amount: | $187.5 million
|
| Type: | Negotiated
|
| Underwriters: | Ziegler Capital Inc. and Wells Fargo Securities LLC (lead)
|
| Ratings: | Standard & Poor’s: A
|
| Fitch: A
|
| Pricing date: | June 23
|
| Settlement date: | June 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.52 million | 2016 | Serial | 2% | 100.934
|
| $3,565,000 | 2017 | Serial | 3% | 103.302
|
| $3.49 million | 2018 | Serial | 3% | 104.043
|
| $3.71 million | 2019 | Serial | 4% | 108.146
|
| $3,815,000 | 2020 | Serial | 4% | 108.965
|
| $3,895,000 | 2022 | Serial | 5% | 115.333
|
| $4.09 million | 2023 | Serial | 5% | 115.984
|
| $4,295,000 | 2024 | Serial | 5% | 116.408
|
| $4,515,000 | 2025 | Serial | 5% | 116.675
|
| $5.02 million | 2026 | Serial | 5% | 116.649
|
| $5.29 million | 2027 | Serial | 5% | 114.985
|
| $5,575,000 | 2028 | Serial | 5% | 113.541
|
| $6.05 million | 2029 | Serial | 5% | 112.213
|
| $6.38 million | 2030 | Serial | 5% | 111.556
|
| $6,745,000 | 2031 | Serial | 5% | 110.81
|
| $7,115,000 | 2032 | Serial | 5% | 110.532
|
| $7,505,000 | 2033 | Serial | 5% | 110.163
|
| $33.76 million | 2034 | Serial | 4.125% | 97.764
|
| $28 million | 2035 | Serial | 5% | 109.52
|
| $20.1 million | 2044 | Term | 4.375% | 97.992
|
| $21,065,000 | 2045 | Term | 5% | 107.888
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
