Published on 5/9/2012 in the Prospect News Municipals Daily.
New Issue: Massachusetts Development Finance brings $85.66 million of Berkshire Health bonds
By Sheri Kasprzak
New York, May 9 - The Massachusetts Development Finance Agency priced $85,655,000 of series 2012G revenue bonds for the Berkshire Health System, said a term sheet.
The bonds (A3/BBB+/BBB+) were sold through Barclays Capital Inc. The co-managers were Bank of America Merrill Lynch and Morgan Stanley & Co. LLC.
The bonds are due 2012 to 2031. Coupons range from 2% to 5%.
Proceeds will be used to refund the series 2001E and 2009A revenue bonds issued for the health system by the Massachusetts Health and Educational Facilities Authority.
| Issuer: | Massachusetts Development Finance Agency/Berkshire Health System
|
| Issue: | Series 2012G revenue bonds
|
| Amount: | $85,655,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead), Bank of America Merrill Lynch and Morgan Stanley & Co. LLC (co-managers)
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Pricing date: | May 9
|
| Settlement date: | May 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,485,000 | 2012 | Serial | 2% | 100.503
|
| $2,485,000 | 2013 | Serial | 4% | 104.014
|
| $2.58 million | 2014 | Serial | 2% | 101.688
|
| $2,635,000 | 2015 | Serial | 4% | 108.081
|
| $2.74 million | 2016 | Serial | 5% | 113.21
|
| $2,875,000 | 2017 | Serial | 5% | 114.287
|
| $125,000 | 2018 | Serial | 3% | 103.575
|
| $2,895,000 | 2018 | Serial | 5% | 115.302
|
| $3,105,000 | 2019 | Serial | 5% | 115.753
|
| $2,505,000 | 2020 | Serial | 5% | 115.56
|
| $4,345,000 | 2021 | Serial | 5% | 115.499
|
| $100,000 | 2022 | Serial | 3.5% | 101.918
|
| $4,465,000 | 2022 | Serial | 5% | 113.929
|
| $4.76 million | 2023 | Serial | 5% | 112.811
|
| $5 million | 2024 | Serial | 5% | 111.875
|
| $5.25 million | 2025 | Serial | 5% | 111.368
|
| $5.49 million | 2026 | Serial | 5% | 110.78
|
| $5,765,000 | 2027 | Serial | 5% | 110.197
|
| $6,055,000 | 2028 | Serial | 5% | 109.699
|
| $25,000 | 2029 | Serial | 4% | 100
|
| $6,335,000 | 2029 | Serial | 5% | 109.286
|
| $6.65 million | 2030 | Serial | 5% | 109.122
|
| $6,985,000 | 2031 | Serial | 5% | 108.958
|
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