Published on 6/24/2015 in the Prospect News Municipals Daily.
New Issue: Maryland Health brings to market $263.25 million Meritus Medical bonds
By Sheri Kasprzak
New York, June 24 – The Maryland Health and Higher Educational Facilities Authority sold $263.25 million of series 2015 revenue bonds for the Meritus Medical Center, said a pricing sheet.
The bonds (/BBB/BBB) were sold through BofA Merrill Lynch.
The bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The serial coupons range from 3.5% to 5%. The 2040 bonds have a 5% coupon priced at 105.546, and the 2045 bond have a 5% coupon priced at 104.967.
Proceeds will be used to finance capital projects and the acquisition of technology for the medical center.
| Issuer: | Maryland Health and Higher Educational Facilities Authority/Meritus Medical Center
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $263.25 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), M&T Securities Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor’s: BBB
|
| Fitch: BBB
|
| Pricing date: | June 24
|
| Settlement date: | July 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.98 million | 2016 | Serial | 5% | 104.042
|
| $4.23 million | 2017 | Serial | 5% | 107.14
|
| $4.44 million | 2018 | Serial | 5% | 109.39
|
| $4,665,000 | 2019 | Serial | 5% | 111.132
|
| $4.9 million | 2020 | Serial | 4% | 107.513
|
| $5,145,000 | 2021 | Serial | 5% | 112.794
|
| $5.4 million | 2022 | Serial | 5% | 112.842
|
| $5.67 million | 2023 | Serial | 5% | 112.96
|
| $5,955,000 | 2024 | Serial | 5% | 112.701
|
| $6.25 million | 2025 | Serial | 5% | 112.63
|
| $6,565,000 | 2026 | Serial | 3.5% | 98.208
|
| $6.89 million | 2027 | Serial | 5% | 110.587
|
| $7,235,000 | 2028 | Serial | 5% | 109.625
|
| $7.6 million | 2029 | Serial | 5% | 109.019
|
| $7.98 million | 2030 | Serial | 4% | 98.668
|
| $8,375,000 | 2031 | Serial | 5% | 108.245
|
| $8,795,000 | 2032 | Serial | 4% | 97.589
|
| $9.16 million | 2033 | Serial | 5% | 107.393
|
| $9.55 million | 2034 | Serial | 5% | 107.054
|
| $9,955,000 | 2035 | Serial | 4.25% | 98.149
|
| $57,335,000 | 2040 | Term | 5% | 105.546
|
| $73,175,000 | 2045 | Term | 5% | 104.967
|
© 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.
