Published on 5/13/2015 in the Prospect News Municipals Daily.
New Issue: Alexandria IDA, Va., brings $68.82 million Goodwin House revenue bonds
By Sheri Kasprzak
New York, May 13 – The Alexandria Industrial Development Authority of Virginia sold $68,815,000 of series 2015 residential care facilities mortgage revenue bonds for the Goodwin House Inc., according to a pricing sheet.
The bonds (//BBB) were sold through Ziegler & Co. and Davenport & Co.
The bonds are due 2015 to 2025 with term bonds due in 2030, 2035, 2045, 2047 and 2050. The serial coupons range from 1% to 5% with yields from 0.75% to 3.45%.
The 2030 bonds have a 4% coupon priced at 98.864 to yield 4.1% and a 5% coupon priced at 108.852 to yield 3.95%.
The 2035 bonds have a 4.25% coupon priced at 99.321 to yield 4.3% and a 5% coupon priced at 107.312 to yield 4.125%.
The 2045 bonds have a 5% coupon priced at 105.797 to yield 4.3%.
The 2047 bonds have a 5% coupon priced at 105.369 to yield 4.35%, and the 2050 bonds have a 5% coupon priced at 104.447 to yield 4.42%.
Proceeds will be used to finance improvements and upgrades to Goodwin House, a continuing care retirement facility in Alexandria, as well as refund the authority’s series 2005 variable-rate demand bonds.
| Issuer: | Alexandria Industrial Development Authority/Goodwin House Inc.
|
| Issue: | Series 2015 residential care facilities mortgage revenue bonds
|
| Amount: | $68,815,000
|
| Type: | Negotiated
|
| Underwriters: | Ziegler & Co. and Davenport & Co.
|
| Rating: | Fitch: BBB
|
| Pricing date: | May 5
|
| Settlement date: | May 21
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $310,000 | 2015 | Serial | 1% | 100.089 | 0.75%
|
| $855,000 | 2016 | Serial | 2% | 101.32 | 1.02%
|
| $120,000 | 2017 | Serial | 2% | 101.271 | 1.45%
|
| $750,000 | 2017 | Serial | 3% | 103.583 | 1.45%
|
| $140,000 | 2018 | Serial | 2% | 100.485 | 1.85%
|
| $755,000 | 2018 | Serial | 3% | 103.729 | 1.85%
|
| $165,000 | 2019 | Serial | 2.125% | 99.895 | 2.15%
|
| $760,000 | 2019 | Serial | 4% | 107.66 | 2.15%
|
| $955,000 | 2020 | Serial | 4% | 108.001 | 2.40%
|
| $995,000 | 2021 | Serial | 5% | 113.984 | 2.60%
|
| $1,045,000 | 2022 | Serial | 5% | 113.684 | 2.92%
|
| $395,000 | 2023 | Serial | 3.125% | 99.815 | 3.15%
|
| $700,000 | 2023 | Serial | 5% | 113.502 | 3.15%
|
| $335,000 | 2024 | Serial | 3.25% | 99.199 | 3.35%
|
| $810,000 | 2024 | Serial | 5% | 113.16 | 3.35%
|
| $1,195,000 | 2025 | Serial | 5% | 113.402 | 3.45%
|
| $2,705,000 | 2030 | Term | 4% | 98.864 | 4.10%
|
| $4.18 million | 2030 | Term | 5% | 108.852 | 3.95%
|
| $1.8 million | 2035 | Term | 4.25% | 99.321 | 4.30%
|
| $6.87 million | 2035 | Term | 5% | 107.312 | 4.125%
|
| $25.05 million | 2045 | Term | 5% | 105.797 | 4.30%
|
| $6.65 million | 2047 | Term | 5% | 105.369 | 4.35%
|
| $11,275,000 | 2050 | Term | 5% | 104.774 | 4.42%
|
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