By Sheri Kasprzak
New York, April 17 - Sutter Health of California priced $300 million of series 2013 taxable bonds, according to a pricing sheet.
The deal included $100 million of series 2013A bonds, $100 million of series 2013B bonds and $100 million of series 2013C bonds.
The bonds (Aa3//AA-) were sold through Morgan Stanley & Co. LLC and BofA Merrill Lynch.
All of the bonds are due Aug. 15, 2053. The 2013A bonds have a 1.09% coupon, the 2013B bonds have a 1.674% coupon and the 2013C bonds have a 2.286% coupon, all priced at par.
Proceeds will be used to finance capital projects, including reimbursement for prior capital expenditures.
| Issuer: | Sutter Health
|
| Issue: | Series 2013 taxable bonds
|
| Amount: | $300 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead), Sutter Securities Inc. (co-manager)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA-
|
| Pricing date: | April 11
|
| Settlement date: | April 24
|
|
|
| $100 million series 2013A bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 15, 2053 | Term | 1.09% | 100
|
|
|
| $100 million series 2013B bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 15, 2053 | Term | 1.674% | 100
|
|
|
| $100 million series 2013C bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 15, 2053 | Term | 2.286% | 100
|
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