|Bond Notice Upcoming Auction January 21, 2009|
SUPPLEMENTAL NOTICE CONCERNING AUCTION RATE SECURITIES
Dated: January 19, 2009
The City of St. Petersburg Health Facilities Authority (the "Authority") has previously issued its $61,575,000 aggregate principal amount Health Facilities Revenue Bonds (All Children’s Hospital, Inc. Obligated Group Project), Series 2007A dated October 1, 2007 (the "Series 2007A Bonds”), and loaned the proceeds thereof to All Children’s Hospital, Inc. (the “Borrower”).
On March 24, 2008 the Borrower filed a Report of Material Development as a preliminary statement of the Borrower’s intent to bid on the Series 2007A Bonds. The purpose of this Supplemental Notice is to supplement that Report of Material Development.
SUPPLEMENTAL NOTICE IS HEREBY GIVEN that:
(1) The Borrower currently intends to submit bids in the upcoming auction on Wednesday, January 21, 2009 to purchase the entire principal amount of Series 2007A Bonds subject to auction. The Borrower intends to bid an interest rate of the now current SIFMA Municipal Swap Index that is 0.460%. The Borrower presently intends to submit Hold Orders in auctions with respect to the Series 2007A Bonds it presently owns which is $60,850,000.
(2) Following the auction, at any time until the next succeeding auction, any holder of any outstanding Series 2007A Bonds may sell all or any portion of the Series 2007A Bonds to Citigroup Global Markets Inc. (“Citigroup”) the broker-dealer for the Series 2007A Bonds, without regard to the type of order such holder submitted in the prior auction. Citigroup will purchase, on behalf of the Borrower, all such Series 2007A Bonds at a price equal to par plus accrued but unpaid interest thereon.
(3) Attached hereto as Schedule A is certain information with respect to the auction for the Series 2007A Bonds that occurred on January 14, 2009. The amount of Series 2007A Bonds for sale in the auction was $0, as all existing bondholders submitted Hold Orders in the auction.
(4) Additional notices regarding this matter may be posted by the Borrower.
ALL CHILDREN'S HOSPITAL, INC.
(a) The amount of Series 2007A Bonds for sale in such auction was $61,575,000;
(b) the number and aggregate dollar amount of bids made as “hold,” “hold at” or as “buy orders” in such auction were three (3) bids with a dollar amount of $123,875,000;
(c) upon current information the Borrower understands that there were no “buy orders” placed by bidders other than the current Broker Dealer, which is Citigroup, and the Borrower;
(d) Citigroup provided one (1) bid for its own account, the interest rate was 7.000%, and dollar amount of the bid made by Citigroup was for $61,575,000 of the Series 2007A Bonds being auctioned;
(e) the Borrower made two (2) bids for its own account, a hold order for $60,850,000 and a bid for $725,000 at the interest rate of 0.590% of the total outstanding $61,575,000 of the Series 2007A Bonds being auctioned, and;
(f) the clearing rate was 0.197%, the high bid was 7.000%, the low bid was 0.590% and median bid was 3.795% (non-weighted basis), as received.
Please find further information attached as an order summary.