By Sheri Kasprzak
New York, Jan. 12 - The City of Upland, Calif., priced $124.605 million of series 2011 certificates of participation for the San Antonio Community Hospital, according to a pricing sheet.
The bonds (A3/A/) were sold on a negotiated basis with Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. as the senior managers.
The bonds are due 2012 to 2021 with term bonds due 2026, 2032 and 2041. The serial coupons range from 3% to 5.75%. The 2026 bonds have a 6% coupon priced at 98.065 and the 2032 bonds have a 6.375% coupon priced at 97.184. The 2041 bonds have a 6.5% coupon priced at 96.797.
Proceeds will be used to construct, equip, acquire and renovate hospital facilities, as well as prepay existing debt.
Issuer: | City of Upland, Calif./San Antonio Community Hospital
|
Issue: | Series 2011 certificates of participation
|
Amount: | $124.605 million
|
Type: | Negotiated
|
Underwriters: | Bank of America Merrill Lynch and Morgan Stanley & Co. Inc.
|
Ratings: | Moody's: A3
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| Standard & Poor's: A
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Pricing date: | Jan. 12
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Settlement date: | Jan. 27
|
|
Amount | Maturity | Type | Coupon | Price
|
$1.615 million | 2012 | Serial | 3% | 101.153
|
$1.79 million | 2013 | Serial | 3% | 101.311
|
$1.845 million | 2014 | Serial | 4% | 103.206
|
$1.915 million | 2015 | Serial | 5% | 105.985
|
$2.015 million | 2016 | Serial | 5% | 105.573
|
$2.115 million | 2017 | Serial | 5% | 105.012
|
$2.22 million | 2018 | Serial | 5% | 103.546
|
$2.33 million | 2019 | Serial | 5.5% | 105.307
|
$2.46 million | 2020 | Serial | 5.5% | 103.78
|
$2.595 million | 2021 | Serial | 5.75% | 104.061
|
$15.465 million | 2026 | Term | 6% | 98.065
|
$25.85 million | 2032 | Term | 6.375% | 97.184
|
$62.39 million | 2041 | Term | 6.5% | 96.797
|
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