Published on 11/14/2013 in the Prospect News Municipals Daily.
New Issue: Missouri Health sells $77.22 million St. Louis College of Pharmacy debt
By Sheri Kasprzak
New York, Nov. 14 - The Missouri Health and Educational Facilities Authority priced $77,215,000 of series 2013 revenue bonds for the St. Louis College of Pharmacy, according to a pricing sheet.
The bonds (/BBB+/BBB+) were sold through senior manager Wells Fargo Securities LLC.
The bonds are due 2014 to 2023 with term bonds due in 2030, 2033 and 2043. The serial coupons range from 2% to 5% with 0.7% to 3.96% yields. The 2030 bonds have a 5% coupon priced at 99.222 to yield 5.07% and the 2033 bonds have a 5.25% coupon priced at 99.634 to yield 5.28%. The 2043 bonds have a 5.5% coupon priced at 98.845 to yield 5.58%.
Proceeds will be used to finance or refinance the construction, equipment and installation of certain educational facilities for the college, as well as to refund the college's series 2006 revenue bonds.
| Issuer: | Missouri Health and Educational Facilities Authority/St. Louis College of Pharmacy
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $77,215,000
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC (lead)
|
| Ratings: | Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.93 million | 2014 | Serial | 2% | 100.557 | 0.70%
|
| $1,905,000 | 2015 | Serial | 3% | 102.862 | 0.98%
|
| $1,075,000 | 2016 | Serial | 3% | 104.2 | 1.24%
|
| $1,995,000 | 2017 | Serial | 5% | 111.268 | 1.61%
|
| $2.09 million | 2018 | Serial | 5% | 112.341 | 2.07%
|
| $2.2 million | 2019 | Serial | 5% | 112.349 | 2.55%
|
| $2.31 million | 2020 | Serial | 5% | 111.244 | 3.06%
|
| $2.42 million | 2021 | Serial | 5% | 110.149 | 3.44%
|
| $2,545,000 | 2022 | Serial | 4% | 101.863 | 3.74%
|
| $2,645,000 | 2023 | Serial | 5% | 108.115 | 3.96%
|
| $7.31 million | 2030 | Term | 5% | 99.222 | 5.07%
|
| $8,485,000 | 2033 | Term | 5.25% | 99.634 | 5.28%
|
| $40,305,000 | 2043 | Term | 5.5% | 98.845 | 5.58%
|
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