By Sheri Kasprzak
New York, Sept. 1 - The Hawaii Department of Budget and Finance priced $83.195 million in series 2009 special purpose senior living revenue bonds on Tuesday, according to a pricing sheet.
The bonds were sold through senior manager Ziegler Capital Markets Inc.
The sale included $44.57 million in series 2009A bonds, $5.9 million in series 2009B bonds, $17.775 million in series 2009C-1 bonds and $14.95 million in series 2009C-2 bonds.
The 2009A bonds are due 2029 and 2044 with 8.75% and 9% coupons respectively, while the 2009B bonds are due 2044 with a 7.75% coupon. The 2009C-1 bonds are due 2015 with a 7.5% coupon, and the 2009C-2 bonds are due 2014 with a 6.4% coupon.
All series of bonds were priced at par.
Proceeds will be used to fund the construction, acquisition and equipment of a 198,207 square-foot senior living facility.
| Issuer: | Hawaii Department of Budget and Finance
|
| Issue: | Series 2009 special purpose senior living revenue bonds
|
| Amount: | $83.195 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Markets Inc. (lead)
|
| Pricing date: | Sept. 1
|
| Settlement date: | Sept. 17
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2029 | Term | 8.75% | Par
|
| 2044 | Term | 9% | Par
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2044 | Term | 7.75% | Par
|
|
|
| Series 2009C-1
|
| Maturity | Type | Coupon | Price
|
| 2015 | Term | 7.5% | Par
|
|
|
| Series 2009C-2
|
| Maturity | Type | Coupon | Price
|
| 2014 | Term | 6.4% | Par
|
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