By Sheri Kasprzak
New York, Nov. 23 - The Catholic Health Services of Long Island sold $245.18 million of series 2011 revenue bonds in two tranches, according to a pricing sheet.
The offering included $184.68 million of series 2011 bonds sold through the Suffolk County Economic Development Corp. and $60.5 million of series 2011 bonds sold through the Nassau County Local Economic Assistance and Financing Corp.
The Suffolk bonds are due 2013 to 2022 with a term bond due in 2028. The serial coupons range from 2.5% to 5%. The 2028 bonds have a 5% coupon priced at 101.132.
The Nassau bonds are due 2013 to 2022 with coupons from 2% to 5%.
The bonds (A3/A-/A-) were sold through Goldman Sachs & Co. and Morgan Stanley & Co. LLC.
Proceeds will be used to reimburse the obligated group for ongoing capital expenditures, including capital improvements, renovations and equipment purchases, as well as to refund the obligated group's series 1999A Good Samaritan Hospital Medical Center, series 1999A St. Charles Hospital and Rehabilitation Center revenue bonds, series 2000A St. Catherine of Siena Medical Center revenue bonds and series 2000B Siena Village revenue bonds.
| Issuer: | Catholic Health Services of Long Island
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $245.18 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
| Pricing date: | Nov. 22
|
| Settlement date: | Dec. 14
|
|
|
| $184.68 million series 2011 revenue bonds through Suffolk County Economic Development Corp.
|
| Amount | Maturity | Type | Coupon | Price
|
| $50,000 | 2013 | Serial | 2.5% | 101.523
|
| $50,000 | 2014 | Serial | 3% | 102.974
|
| $50,000 | 2015 | Serial | 3.5% | 104.237
|
| $6.06 million | 2016 | Serial | 5% | 109.644
|
| $8.97 million | 2017 | Serial | 5% | 109.988
|
| $9.88 million | 2018 | Serial | 5% | 109.688
|
| $15.115 million | 2019 | Serial | 5% | 109.04
|
| $9.64 million | 2020 | Serial | 5% | 108.155
|
| $6.855 million | 2021 | Serial | 5% | 107.704
|
| $25.525 million | 2022 | Serial | 5% | 106.479
|
| $102.485 million | 2028 | Term | 5% | 101.132
|
|
|
| $60.5 million series 2011 revenue bonds through Nassau County Local Economic Assistance and Financing Corp.
|
| Amount | Maturity | Type | Coupon | Price
|
| $50,000 | 2013 | Serial | 2% | 100.761
|
| $50,000 | 2014 | Serial | 2.5% | 101.734
|
| $1.48 million | 2015 | Serial | 5% | 109.324
|
| $55,000 | 2016 | Serial | 3% | 101.146
|
| $50,000 | 2017 | Serial | 3.25% | 101.114
|
| $50,000 | 2018 | Serial | 3.5% | 100.932
|
| $10.265 million | 2019 | Serial | 5% | 109.04
|
| $18.45 million | 2020 | Serial | 5% | 108.155
|
| $22.6 million | 2021 | Serial | 5% | 107.704
|
| $7.5 million | 2022 | Serial | 5% | 106.479
|
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