By Sheri Kasprzak
New York, June 15 - The Pennsylvania Economic Development Financing Authority priced $148.02 million in series 2009A health system revenue bonds for the Albert Einstein Healthcare Network, according to an official statement.
The bonds (A3//A-) were sold Wednesday through Goldman, Sachs & Co.
The bonds are due 2010 to 2015 with a term bond due 2023. The serials have coupons from 5% to 5.25% and yields from 3.45% to 5.3%. The 2023 bonds have a 6.25% coupon to yield 6.5%.
Proceeds will be used to repay a commercial loan and fund a debt service reserve fund.
| Issuer: | Pennsylvania Economic Development Financing Authority/Albert Einstein Healthcare Network
|
| Issue: | Series 2009A health system revenue bonds
|
| Amount: | $148.02 million
|
| Type: | Negotiated
|
| Underwriter: | Goldman, Sachs & Co.
|
| Ratings: | Moody's: A3
|
| Fitch: A-
|
| Pricing date: | June 10
|
| Settlement date: | June 18
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 5% | 3.45%
|
| 2011 | Serial | 5% | 4.00%
|
| 2012 | Serial | 5% | 4.35%
|
| 2013 | Serial | 5% | 4.70%
|
| 2014 | Serial | 5.25% | 5.15%
|
| 2015 | Serial | 5.25% | 5.30%
|
| 2023 | Term | 6.25% | 6.50%
|
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