By Sheri Kasprzak
New York, July 22 – The Harris County Cultural Education Facilities Finance Corp. of Texas priced $300 million of series 2015 revenue bonds for the Houston Methodist Hospital, according to a pricing sheet.
The deal included two $150 million tranches, both of which are due Dec. 1, 2045. One tranche has a 4% coupon priced at 96.417 and the other a 5% coupon priced at 108.982.
The bonds (/AA/) were sold through BofA Merrill Lynch and J.P. Morgan Securities LLC.
Proceeds will be used to construct a new north tower at the hospital’s Texas Medical Center campus, construct a new community hospital in the Woodlands and expand facilities at the Houston Methodist Sugar Land Hospital.
| Issuer: | Harris County Cultural Education Facilities Finance Corp., Texas/Houston Methodist Hospital
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| Issue: | Series 2015 revenue bonds
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| Amount: | $300 million
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| Type: | Negotiated
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| Underwriters: | BofA Merrill Lynch and J.P. Morgan Securities LLC (lead)
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| Rating: | Standard & Poor’s: AA
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| Pricing date: | July 22
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| Settlement date: | Aug. 6
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| Amount | Maturity | Type | Coupon | Price
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| $150 million | Dec. 1, 2045 | Term | 4% | 96.417
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| $150 million | Dec. 1, 2045 | Term | 5% | 108.982
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