Published on 3/19/2013 in the Prospect News Municipals Daily.
New Issue: Shelby County Health, Tenn., prices $66.48 million of series 2013 revenue refunding bonds
By Sheri Kasprzak
New York, March 19 - The Shelby County Health, Educational and Housing Authority of Tennessee priced $66,475,000 of series 2013 revenue refunding bonds, said a pricing sheet.
The bonds were sold through RBC Capital Markets LLC.
The deal included $59.9 million of series 2013A bonds and $6,575,000 of series 2013B bonds.
The 2013A bonds are due 2014 to 2027 with term bonds due in 2033, 2041 and 2047. The serial coupons range from 2% to 4.5%, all priced at par. The 2033 bonds have a 5% coupon priced at par, the 2041 bonds have a 5.375% coupon priced at 96.813, and the 2047 bonds have a 5.5% coupon priced at 96.993.
The 2013B bonds are due Sept. 1, 2044 and have an 8% coupon priced at par.
Proceeds will be used to current refund the authority's series 2007A variable-rate demand bonds.
| Issuer: | Shelby County Health, Educational and Housing Authority, Tenn.
|
| Issue: | Series 2013 revenue refunding bonds
|
| Amount: | $66,475,000
|
| Type: | Negotiated
|
| Underwriters | RBC Capital Markets LLC (lead), Raymond James/Morgan Keegan and Duncan-Williams Inc. (co-managers)
|
| Pricing date: | March 19
|
| Settlement date: | March 28
|
|
|
| $59.9 million series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $175,000 | 2014 | Serial | 2% | 100
|
| $175,000 | 2015 | Serial | 2.2% | 100
|
| $200,000 | 2016 | Serial | 2.4% | 100
|
| $200,000 | 2017 | Serial | 2.6% | 100
|
| $175,000 | 2018 | Serial | 2.8% | 100
|
| $200,000 | 2019 | Serial | 3.1% | 100
|
| $225,000 | 2020 | Serial | 3.35% | 100
|
| $225,000 | 2021 | Serial | 3.6% | 100
|
| $250,000 | 2022 | Serial | 3.8% | 100
|
| $250,000 | 2023 | Serial | 4% | 100
|
| $250,000 | 2024 | Serial | 4.1% | 100
|
| $275,000 | 2025 | Serial | 4.2% | 100
|
| $275,000 | 2026 | Serial | 4.35% | 100
|
| $300,000 | 2027 | Serial | 4.5% | 100
|
| $2.05 million | 2033 | Term | 5% | 100
|
| $17.6 million | 2041 | Term | 5.375% | 96.813
|
| $37,075,000 | 2047 | Term | 5.5% | 96.993
|
|
|
| $6,575,000 series 2013B bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2044 | Term | 8% | 100
|
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