Published on 5/6/2016 in the Prospect News Municipals Daily.
New Issue: Missouri Health brings $259.43 million Saint Luke’s Health bonds
By Sheri Kasprzak
New York, May 6 – The Missouri Health and Educational Facilities Authority priced $259.43 million of series 2016 health facilities revenue bonds for Saint Luke’s Health, according to a pricing sheet.
The bonds (A1/A+) were sold through RBC Capital Markets LLC and J.P. Morgan Securities LLC.
The bonds are due 2020 to 2036 with a term bond due in 2042. The serial coupons range from 3% to 5% with yields from 1.08% to 3.29%. The 2042 bonds have a 4% coupon priced at 105.741 to yield 3.32%.
Proceeds will be used to refund the health care system’s series 2003A-B, 2005A-B and 2012B revenue bonds.
| Issuer: | Missouri Health and Educational Facilities Authority/Saint Luke’s Health
|
| Issue: | Series 2016 health facilities revenue bonds
|
| Amount: | $259.43 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC and J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Pricing date: | May 6
|
| Settlement date: | May 18
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6,815,000 | 2020 | Serial | 5% | 117.141 | 1.08%
|
| $7.08 million | 2021 | Serial | 5% | 119.842 | 1.25%
|
| $9,085,000 | 2022 | Serial | 5% | 122.195 | 1.41%
|
| $9.35 million | 2023 | Serial | 5% | 123.914 | 1.60%
|
| $9,655,000 | 2024 | Serial | 5% | 125.541 | 1.75%
|
| $9.95 million | 2025 | Serial | 5% | 126.807 | 1.90%
|
| $10,285,000 | 2026 | Serial | 5% | 126.323 | 2.07%
|
| $15.2 million | 2027 | Serial | 5% | 124.484 | 2.25%
|
| $15,515,000 | 2028 | Serial | 5% | 123.677 | 2.33%
|
| $15,915,000 | 2029 | Serial | 5% | 122.677 | 2.43%
|
| $16,455,000 | 2030 | Serial | 5% | 122.279 | 2.47%
|
| $17.01 million | 2031 | Serial | 5% | 121.686 | 2.53%
|
| $17.71 million | 2032 | Serial | 3% | 98.461 | 3.12%
|
| $17.89 million | 2033 | Serial | 4% | 108.938 | 2.96%
|
| $18,415,000 | 2034 | Serial | 5% | 120.412 | 2.66%
|
| $19.12 million | 2035 | Serial | 5% | 119.927 | 2.71%
|
| $6 million | 2036 | Serial | 3.25% | 99.406 | 3.29%
|
| $37.98 million | 2042 | Term | 4% | 105.741 | 3.32%
|
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