New Issue: Kentucky Economic Development prices $49.66 million Masonic Homes bonds

By Sheri Kasprzak

New York, Oct. 10 - The Kentucky Economic Development Authority priced a downsized $49,655,000 offering of series 2012 health care facilities revenue and revenue refunding bonds for the Masonic Homes of Kentucky, according to a pricing sheet. The authority initially intended to sell $50 million.

The bonds were sold through Ziegler Capital Inc.

The bonds are due 2014 to 2016 with term bonds due in 2020, 2025, 2032, 2042 and 2045. The serial coupons range from 3% to 4%. The 2020 bonds have a 4.125% coupon priced at 97.492 and the 2025 bonds have a 4.75% coupon priced at 97.624. The 2032 bonds have a 5.375% coupon and were not reoffered. The 2042 bonds have a 5.375% coupon priced at 99.187. The 2045 bonds have a 5.5% coupon and were not reoffered.

Proceeds will be used to construct, equip, acquire and renovate Masonic Homes of Kentucky properties, as well as to refund the authority's series 2009 and 2010 revenue bonds.

Issuer:	Kentucky Economic Development Authority/Masonic Homes of Kentucky
Issue:	Series 2012 health care facilities revenue and revenue refunding bonds
Amount:	$49,655,000
Type:	Negotiated
Underwriter:	Ziegler Capital Inc. (lead)
Pricing date:	Oct. 10
Settlement date:	Oct. 31
Amount	Maturity	Type	Coupon	Price
$695,000	2014	Serial	3%	101.086
$720,000	2015	Serial	3%	101.16
$740,000	2016	Serial	4%	104.941
$3,275,000	2020	Term	4.125%	97.492
$4.98 million	2025	Term	4.75%	97.624
$9,385,000	2032	Term	5.375%	NRO
$21,065,000	2042	Term	5.375%	99.187
$8,795,000	2045	Term	5.5%	NRO

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