By Cristal Cody
Eureka Springs, Ark., July 1 – The Colorado Health Facilities Authority sold $173.25 million of hospital revenue bonds (Aa2/AA/AA) for the Adventist Health System/Sunbelt Obligated Group, according to a new issue statement.
The series 2016C bonds included two tranches.
The authority priced $86.5 million of 5% initial interest rate term bonds due Nov. 15, 2036 at 122.706 to yield 1.66%. The price and yield are scheduled for a mandatory tender date on Nov. 15, 2023.
The authority sold $86.75 million of 5% initial interest rate term bonds due Nov. 15, 2036 at 127.236 to yield 2.04%. The bonds have a scheduled mandatory tender date of Nov. 15, 2026.
The negotiated deal was managed by BofA Merrill Lynch, Ziegler & Co. and Wells Fargo Securities LLC.
Proceeds will be used together with other money to refund the refunded series 2006C bonds, for the acquisition, construction and equipping of certain facilities of the borrowers and for capital improvements.
| Issuer: | Colorado Health Facilities Authority/Adventist Health System/Sunbelt Obligated Group
|
| Issue: | Revenue bonds
|
| Amount: | $173.25 million
|
| Type: | Negotiated
|
| Bookrunners: | BofA Merrill Lynch, Ziegler & Co. and Wells Fargo Securities LLC
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | June 23
|
| Settlement date: | Aug. 17
|
|
|
| Series 2016C bonds
|
| Maturity | Type | Amount | Price | Coupon | Yield
|
| Nov. 15, 2036 | Term | $86.5 million | 122.706 | 5% | 1.66%
|
| Nov. 15, 2036 | Term | $86.75 million | 127.236 | 5% | 2.04%
|
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