Published on 5/3/2016 in the Prospect News Municipals Daily.
New Issue: Colorado Health sells $172.69 million Children’s Hospital bonds
By Sheri Kasprzak
New York, May 3 – The Colorado Health Facilities Authority priced $172,695,000 of series 2016 hospital revenue bonds for Children’s Hospital Colorado, according to a pricing sheet.
The deal included $69,165,000 of series 2016A bonds and $103.53 million of series 2016B refunding bonds.
The 2016A bonds are due 2017 to 2036 with term bonds due in 2041 and 2044. The serial coupons range from 2% to 5% with yields from 0.77% to 2.89%. The 2041 bonds have a 5% coupon priced at 117.007 to yield 3.02% and the 2044 bonds have a 5% coupon priced at 116.631 to yield 3.06%.
The 2016B bonds are due 2016 to 2033 with coupons from 2% to 5% and yields from 0.61% to 3.16%.
The bonds (A1/A+) were sold through J.P. Morgan Securities LLC.
Proceeds will be used to finance capital improvements to the hospital and refund existing debt.
| Issuer: | Colorado Health Facilities Authority/Children’s Hospital Colorado
|
| Issue: | Series 2016 hospital revenue bonds
|
| Amount: | $172,695,000
|
| Type: | Negotiated
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Pricing date: | May 3
|
| Settlement date: | May 24
|
|
|
| $69,165,000 series 2016A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,325,000 | 2017 | Serial | 2% | 101.854 | 0.77%
|
| $1.35 million | 2018 | Serial | 3% | 105.193 | 0.91%
|
| $1,385,000 | 2019 | Serial | 4% | 110.02 | 1.09%
|
| $1,465,000 | 2020 | Serial | 3% | 107.757 | 1.23%
|
| $1.46 million | 2021 | Serial | 4% | 113.763 | 1.40%
|
| $1,525,000 | 2022 | Serial | 5% | 121.176 | 1.57%
|
| $1.61 million | 2023 | Serial | 3% | 109.139 | 1.70%
|
| $1,645,000 | 2024 | Serial | 4% | 116.702 | 1.87%
|
| $1.7 million | 2025 | Serial | 5% | 125.393 | 2.05%
|
| $1.79 million | 2026 | Serial | 5% | 124.952 | 2.21%
|
| $1,875,000 | 2027 | Serial | 5% | 123.735 | 2.33%
|
| $195,000 | 2029 | Serial | 5% | 122.135 | 2.49%
|
| $210,000 | 2030 | Serial | 5% | 121.739 | 2.53%
|
| $225,000 | 2031 | Serial | 5% | 121.147 | 2.59%
|
| $235,000 | 2032 | Serial | 5% | 120.559 | 2.65%
|
| $255,000 | 2033 | Serial | 5% | 119.975 | 2.71%
|
| $205,000 | 2034 | Serial | 5% | 119.393 | 2.77%
|
| $215,000 | 2035 | Serial | 5% | 118.815 | 2.83%
|
| $4,935,000 | 2036 | Serial | 5% | 118.241 | 2.89%
|
| $25,985,000 | 2041 | Term | 5% | 117.007 | 3.02%
|
| $19,575,000 | 2044 | Term | 5% | 116.631 | 3.06%
|
|
|
| $103.53 million series 2016B refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.92 million | 2016 | Serial | 2% | 100.719 | 0.61%
|
| $4,055,000 | 2017 | Serial | 4% | 104.869 | 0.77%
|
| $4,195,000 | 2018 | Serial | 5% | 110.164 | 0.91%
|
| $4,435,000 | 2019 | Serial | 5% | 113.538 | 1.07%
|
| $4.64 million | 2020 | Serial | 5% | 116.715 | 1.19%
|
| $4,965,000 | 2021 | Serial | 5% | 119.35 | 1.35%
|
| $5.2 million | 2022 | Serial | 5% | 121.59 | 1.51%
|
| $5.45 million | 2023 | Serial | 5% | 123.2 | 1.70%
|
| $5,745,000 | 2024 | Serial | 5% | 124.811 | 1.84%
|
| $6,125,000 | 2025 | Serial | 5% | 125.985 | 1.99%
|
| $6.33 million | 2026 | Serial | 5% | 125.463 | 2.16%
|
| $6.66 million | 2027 | Serial | 5% | 124.24 | 2.28%
|
| $7,615,000 | 2029 | Serial | 5% | 122.632 | 2.44%
|
| $8,005,000 | 2030 | Serial | 5% | 121.937 | 2.51%
|
| $8.37 million | 2031 | Serial | 5% | 121.344 | 2.57%
|
| $8.8 million | 2032 | Serial | 3% | 98.079 | 3.15%
|
| $9.02 million | 2033 | Serial | 3% | 97.859 | 3.16%
|
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