New Issue: California Statewide prices $84.75 million Buck Institute revenue bonds

By Sheri Kasprzak

New York, Nov. 21 – The California Statewide Communities Development Authority sold $84,745,000 of series 2014 revenue bonds for the Buck Institute for Research on Aging, said a pricing sheet.

The bonds (/A+/) were sold through Cain Brothers Inc.

The bonds are due 2016 to 2029 with term bonds due in 2034, 2044 and 2049. The serial coupons range from 3% to 5% with 0.7% to 3.4% yields. The 2034 bonds have a 5% coupon to yield 3.55%, and the 2044 bonds have a 5% coupon to yield 3.82%. The 2049 bonds have a 5% coupon to yield 4%.

Proceeds will be used to finance working capital as well as to refund the institute’s series 2001 and 2010 variable-rate demand revenue bonds.

Issuer:	California Statewide Communities Development Authority/Buck Institute for Research on Aging
Issue:	Series 2014 revenue bonds
Amount:	$84,745,000
Type:	Negotiated
Underwriter:	Cain Brothers Inc.
Rating:	Standard & Poor’s: A+
Pricing date:	Nov. 19
Settlement date:	Nov. 26
Amount	Maturity	Type	Coupon	Yield
$1,025,000	2016	Serial	3%	0.7%
$1,055,000	2017	Serial	4%	0.95%
$1.1 million	2018	Serial	5%	1.34%
$1,155,000	2019	Serial	5%	1.56%
$1.21 million	2020	Serial	5%	1.87%
$1.27 million	2021	Serial	5%	2.21%
$1,335,000	2022	Serial	5%	2.47%
$1.4 million	2023	Serial	5%	2.65%
$1.47 million	2024	Serial	5%	2.8%
$1,545,000	2025	Serial	5%	3.01%
$1.62 million	2026	Serial	5%	3.16%
$1,705,000	2027	Serial	5%	3.3%
$1.79 million	2028	Serial	5%	3.35%
$1.88 million	2029	Serial	5%	3.4%
$10.89 million	2034	Term	5%	3.55%
$31,645,000	2044	Term	5%	3.82%
$22.65 million	2049	Term	5%	4%

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