Published on 5/18/2015 in the Prospect News Municipals Daily.
New Issue: California Statewide prices $52.08 million American Baptist Homes bonds
By Sheri Kasprzak
New York, May 18 – The California Statewide Communities Development Authority priced $52.08 million of series 2015 revenue bonds for American Baptist Homes of the West, said a pricing sheet.
The bonds (//BBB+) were sold through Ziegler Inc.
The bonds are due 2016 to 2028 with a term bond due in 2045. The serial coupons range from 2% to 5% with 1.20% to 3.96% yields. The 2045 bonds have a 5% coupon and priced at 103.757 to yield 4.54%.
Proceeds will be used to finance capital expenditures at the Terraces at Los Altos senior living facility and to refund the authority’s series 2006 revenue bonds.
| Issuer: | California Statewide Communities Development Authority/American Baptist Homes of the West
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $52.08 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Inc.
|
| Rating: | Fitch: BBB+
|
| Pricing date: | May 15
|
| Settlement date: | May 28
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,885,000 | 2016 | Serial | 2% | 101.06 | 1.20%
|
| $1.91 million | 2017 | Serial | 4% | 105.374 | 1.65%
|
| $1,975,000 | 2018 | Serial | 4% | 105.865 | 2.17%
|
| $1.63 million | 2019 | Serial | 5% | 110.569 | 2.42%
|
| $1.97 million | 2020 | Serial | 5% | 111.577 | 2.66%
|
| $2,255,000 | 2021 | Serial | 5% | 111.958 | 2.92%
|
| $2,355,000 | 2022 | Serial | 5% | 111.69 | 3.20%
|
| $2,465,000 | 2023 | Serial | 5% | 112.149 | 3.32%
|
| $2,575,000 | 2024 | Serial | 5% | 111.775 | 3.51%
|
| $2,685,000 | 2025 | Serial | 5% | 111.811 | 3.62%
|
| $2.82 million | 2026 | Serial | 5% | 110.628 | 3.75%
|
| $2,945,000 | 2027 | Serial | 5% | 109.639 | 3.86%
|
| $3.08 million | 2028 | Serial | 5% | 108.75 | 3.96%
|
| $21.53 million | 2045 | Term | 5% | 103.757 | 4.54%
|
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