By Sheri Kasprzak
New York, Feb. 9 - The California Health Facilities Financing Authority sold $80 million of series 2011A insured revenue bonds (A-) for the Community Program for Persons with Development Disabilities, said a pricing sheet.
The offering included both tax-exempt and taxable bonds. Bank of America Merrill Lynch was the senior manager for the deal.
The tax-exempt bonds are due 2012 to 2021 with term bonds due in 2024 and 2026. The coupons range from 4% to 6.25%. The taxable bonds are due 2012 to 2017 with term bonds due 2019, 2021 and 2026. The coupons range from 3.301% to 6.76%, all priced at par. The 2019 bonds have a 6.76% coupon priced at par. The 2021 bonds have a 7.11% coupon priced at par and the 2026 bonds have a 7.875% coupon priced at par.
Proceeds will be used to refinance outstanding acquisition loans held by the Community Program for Persons with Development Disabilities.
| Issuer: | California Health Facilities Financing Authority/Community Program for Persons with Development Disabilities
|
| Issue: | Series 2011A insured revenue bonds
|
| Amount: | $80 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Rating: | Standard & Poor's: A-
|
| Pricing date: | Feb. 9
|
| Settlement date: | Feb. 17
|
|
|
| Tax-exempt bonds
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 4%
|
| 2013 | Serial | 4%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 5.25%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 5.5%
|
| 2018 | Serial | 5.5%
|
| 2019 | Serial | 5.5%
|
| 2020 | Serial | 5.25%
|
| 2020 | Serial | 5.75%
|
| 2021 | Serial | 5.5%
|
| 2021 | Serial | 5.75%
|
| 2024 | Term | 6%
|
| 2026 | Term | 6.25%
|
|
|
| Taxable bonds
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 3.301% | 100
|
| 2013 | Serial | 4.354% | 100
|
| 2014 | Serial | 4.504% | 100
|
| 2015 | Serial | 5.173% | 100
|
| 2016 | Serial | 5.623% | 100
|
| 2017 | Serial | 6.138% | 100
|
| 2019 | Term | 6.76% | 100
|
| 2021 | Term | 7.11% | 100
|
| 2026 | Term | 7.875% | 100
|
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