By Sheri Kasprzak
New York, April 21 - The Wisconsin Health and Education Facilities Authority and the Health and Educational Facilities Authority of the State of Missouri brought $281.225 million of series 2010 health facilities revenue bonds for SSM Health Care, said a pricing sheet.
The bonds (/AA-/AA-) were sold through Citigroup Global Markets Inc. and Goldman, Sachs & Co. The co-managers were Bank of America Merrill Lynch, Edward Jones & Co. and J.P. Morgan Securities Inc.
The sale included $124.71 million of series 2010A bonds from Wisconsin HEFA and $156.515 million of series 2010B bonds from HEFA of Missouri.
The 2010A bonds are due 2011 to 2013 and from 2018 to 2022, with term bonds due 2030 and 2034. The 2030s have a split maturity. The coupons range from 2% to 5%. The 2030 bonds have a 4.75% coupon and a 5% coupon. The 2034 bonds have a 5.25% coupon.
The 2010B bonds are due 2018 to 2022 with term bonds due 2025, 2030 and 2034, each with a split maturity. The serial coupons range from 4% to 5%. The 2025 bonds have a 4.25% and a 4.5% coupon, the 2030 bonds have a 4.75% and a 5% coupon and the 2034 bonds have a 4.75% and a 5% coupon.
The proceeds will be used to finance and refinance capital projects and restructure existing debt.
The Brookfield, Wis.-based and the Chesterfield, Mo.-based authorities provide financing to health care and educational facilities.
Based in St. Louis, Mo., SSM Health Care operates and maintains hospitals in Missouri, Oklahoma, Illinois and Wisconsin.
| Issuer: | Wisconsin Health and Educational Facilities Authority and Health and Educational Facilities Authority of the State of Missouri for SSM Health Care
|
| Issue: | Series 2010 health facilities revenue bonds
|
| Amount: | $281.225 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead), Bank of America Merrill Lynch, Edward Jones & Co. and J.P. Morgan Securities Inc. (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | April 21
|
| Settlement date: | May 13
|
|
|
| Series 2010A
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 2%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2025 | Term | 4.5%
|
| 2025 | Term | 5%
|
| 2030 | Term | 4.75%
|
| 2030 | Term | 5%
|
| 2034 | Term | 5.25%
|
|
|
| Series 2010B
|
| Maturity | Type | Coupon
|
| 2018 | Serial | 4%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 4%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2025 | Term | 4.25%
|
| 2025 | Term | 4.5%
|
| 2030 | Term | 4.75%
|
| 2030 | Term | 5%
|
| 2034 | Term | 4.75%
|
| 2034 | Term | 5%
|
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