By Sheri Kasprzak
New York, Dec. 17 – The Kansas City Industrial Development Authority of Missouri sold $51.77 million of series 2016 senior living facilities revenue bonds for Kingswood Senior Living, according to a pricing sheet.
The bonds were sold through Cain Brothers.
The bonds are due 2036, 2046 and 2051. The 2036 bonds have a 5.75% coupon priced at par, and the 2046 bonds have a 6% coupon priced at 100.916 to yield 5.875%. The 2051 bonds have a 6% coupon priced at par.
Proceeds will be used to fund improvements to the Kingswood senior living facilities, as well as to refund the authority’s series 1998 bonds.
| Issuer: | Kansas City Industrial Development Authority/Kingswood Senior Living
|
| Issue: | Series 2016 senior living facilities revenue bonds
|
| Amount: | $51.77 million
|
| Type: | Negotiated
|
| Underwriter: | Cain Brothers (lead)
|
| Pricing date: | Dec. 16
|
| Settlement date: | Jan. 6
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $16 million | 2036 | Term | 5.75% | 100 | 5.75%
|
| $18.25 million | 2046 | Term | 6% | 100.916 | 5.875%
|
| $17.52 million | 2051 | Term | 6% | 100 | 6.00%
|
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