By Cristal Cody
Tupelo, Miss., Jan. 30 – The Community Preservation Corp. priced $150 million of 2.867% 10-year taxable sustainability bonds (AA-) at par to yield a spread of Treasuries plus 125 basis points, according to market sources.
Goldman Sachs & Co. LLC and Siebert Williams Shank & Co., LLC were the bookrunners.
Proceeds will be used for corporate purposes, including to refinance existing floating-rate debt.
Community Preservation is a New York-based not-for-profit housing and community revitalization financing company.
| Issuer: | Community Preservation Corp.
|
| Amount: | $150 million
|
| Description: | Series 2020 taxable sustainability bonds
|
| Maturity: | Feb. 1, 2030
|
| Bookrunners: | Goldman Sachs & Co. LLC and Siebert Williams Shank & Co., LLC
|
| Coupon: | 2.867%
|
| Price: | Par
|
| Yield: | 2.867%
|
| Spread: | Treasuries plus 125 bps
|
| Call features: | Make-whole call on or after three months prior to maturity; par thereafter
|
| Trade date: | Jan. 28
|
| Settlement date: | February
|
| Rating: | S&P: AA-
|
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