By Sheri Kasprzak
New York, April 14 - The South Carolina Jobs-Economic Development Authority sold $94.695 million of series 2011A hospital refunding revenue bonds on Thursday for Palmetto Health, according to a pricing sheet.
The bonds (Baa1/BBB+/BBB+) were sold through Merrill Lynch and Edward Jones & Co. Inc.
The bonds are due 2012 to 2026 with term bonds due in 2031, 2034 and 2039. The serial coupons range from 2.75% to 5.75%. The 2031 bonds have a 6% coupon priced at 99.409, and the 2034 bonds have a 6.25% coupon priced at 99.381. The 2039 bonds have a 6.5% coupon priced at 98.399.
Proceeds will be used to refund debt previously issued to fund the acquisition of land, equipment and other hospital property.
| Issuer: | South Carolina Jobs-Economic Development Authority
|
| Issue: | Series 2011A hospital refunding revenue bonds
|
| Amount: | $94.695 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch and Edward Jones & Co. Inc.
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Pricing date: | April 14
|
| Settlement date: | May 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.265 million | 2012 | Serial | 3% | 101.223
|
| $4.22 million | 2013 | Serial | 4% | 103.41
|
| $2.49 million | 2014 | Serial | 2.75% | 99.689
|
| $720,000 | 2015 | Serial | 3.375% | 100.134
|
| $945,000 | 2016 | Serial | 3.75% | 99.854
|
| $920,000 | 2017 | Serial | 4.125% | 99.912
|
| $1.005 million | 2018 | Serial | 4.5% | 100
|
| $1.065 million | 2019 | Serial | 5% | 101.205
|
| $1.08 million | 2020 | Serial | 5% | 99.48
|
| $1.285 million | 2021 | Serial | 5% | 98.262
|
| $1.36 million | 2022 | Serial | 5.25% | 98.904
|
| $1.51 million | 2023 | Serial | 5.25% | 97.958
|
| $1.65 million | 2024 | Serial | 5.5% | 98.879
|
| $1.88 million | 2025 | Serial | 5.5% | 97.486
|
| $2.11 million | 2026 | Serial | 5.75% | 98.791
|
| $11.725 million | 2031 | Term | 6% | 99.409
|
| $15.205 million | 2034 | Term | 6.25% | 99.381
|
| $41.26 million | 2039 | Term | 6.5% | 98.399
|
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