By Sheri Kasprzak
New York, May 20 - The Missouri Health and Educational Facilities Authority sold $300 million of series 2014 health facilities variable-rate revenue bonds for SSM Health Care, according to a pricing sheet.
The offering included $50 million of series 2014B bonds, $50 million of series 2014C bonds, $50 million of series 2014D bonds, $50 million of series 2014E bonds, $50 million of series 2014F bonds and $50 million of series 2014G bonds.
The 2014B bonds are due June 1, 2041 and bear interest at the Window rate plus 14 bps and the 2014C bonds are due June 1, 2041 and bear interest at the Windows rate plus 14 bps. The 2014D and 2014E bonds are due June 1, 2044 and bear interest at the short-term rate. The 2014F and 2014G bonds are due June 1, 2044 and bear interest at the weekly rate, initially at 0.10%.
The bonds (/A+/A-1/AA-/F1+) were sold on a negotiated basis. Citigroup Global Markets Inc. was the lead manager for the 2014B-E bonds, Goldman, Sachs & Co. was the lead manager for the 2014B-C bonds, Wells Fargo Securities LLC was the senior manager for the 2014F-G bonds and Barclays was the senior manager for the 2014G bonds.
Proceeds will be used to finance capital improvements and restructure existing debt for the health care system.
| Issuer: | Missouri Health and Educational Facilities Authority/SSM Health Care
|
| Issue: | Series 2014 health facilities variable-rate revenue bonds
|
| Amount: | $300 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (for 2014B-E bonds), Goldman, Sachs & Co. (for 2014B-C bonds), Wells Fargo Securities LLC (for 2014F-G bonds) and Barclays (for 2014G bonds)
|
| Ratings: | Standard & Poor's: A+/A-1
|
| Fitch: AA-/F1+
|
| Pricing date: | May 13
|
| Settlement date: | May 14
|
|
|
| $50 million series 2014B bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2041 | Term | Windows rate plus 14 bps | 100
|
|
|
| $50 million series 2014C bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2041 | Term | Windows rate plus 14 bps | 100
|
|
|
| $50 million series 2014D bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2044 | Term | Short-term rate | 100
|
|
|
| $50 million series 2014E bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2044 | Term | Short-term rate | 100
|
|
|
| $50 million series 2014F bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2044 | Term | 0.10% | 100
|
|
|
| $50 million series 2014G bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2044 | Term | 0.10% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
