By Sheri Kasprzak
New York, June 5 – The Los Angeles County Regional Financing Authority sold $140,305,000 of series 2014 insured revenue bonds for Montecedro Inc., according to a pricing sheet.
The deal included $44,805,000 of series 2014A bonds, $25.5 million of series 2014B-1 bonds, $25 million of series 2014B-2 bonds and $45 million of series 2014B-3 bonds.
The 2014A bonds are due 2019 to 2029 with term bonds due in 2034 and 2044. The serial coupons range from 3% to 5% and yields range from 1.57% to 3.47%. The 2034 bonds have a 5% coupon priced at 108.429 to yield 3.82% and the 2044 bonds have a 5% coupon priced at 106.868 to yield 4.03%.
The 2014B-1 bonds are due Nov. 15, 2021 and have a 3% coupon priced at 101.672 to yield 1.87%.
The 2014B-2 bonds are due Nov. 15, 2020 and have a 3% coupon priced at 102.304 to yield 1.45%.
The 2014B-3 bonds are due Nov. 15, 2020 and have a 2.5% coupon priced at 101.831 to yield 1.27%.
The bonds (/A/) were sold through BofA Merrill Lynch and Ziegler Inc.
Proceeds will be used to construct, renovate and equip an assisted living facility.
| Issuer: | Los Angeles County Regional Financing Authority/Montecedro Inc.
|
| Issue: | Series 2014 insured revenue bonds
|
| Amount: | $140,305,000
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch and Ziegler Inc. (lead)
|
| Rating: | Standard & Poor’s: A
|
| Pricing date: | June 5
|
| Settlement date: | June 12
|
|
|
| $44,805,000 series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $925,000 | 2019 | Serial | 3% | 107.407 | 1.57%
|
| $955,000 | 2020 | Serial | 4% | 112.386 | 1.94%
|
| $990,000 | 2021 | Serial | 5% | 118.781 | 2.24%
|
| $1.04 million | 2022 | Serial | 3% | 103.776 | 2.50%
|
| $1.07 million | 2023 | Serial | 4% | 109.499 | 2.73%
|
| $1,115,000 | 2024 | Serial | 5% | 115.756 | 2.88%
|
| $1.17 million | 2025 | Serial | 5% | 114.549 | 3.03%
|
| $1.23 million | 2026 | Serial | 5% | 113.277 | 3.19%
|
| $1.29 million | 2027 | Serial | 5% | 112.49 | 3.29%
|
| $1,355,000 | 2028 | Serial | 5% | 111.788 | 3.38%
|
| $1,425,000 | 2029 | Serial | 5% | 111.091 | 3.47%
|
| $8.26 million | 2034 | Term | 5% | 108.429 | 3.82%
|
| $23.98 million | 2044 | Term | 5% | 106.868 | 4.03%
|
|
|
| $25.5 million series 2014B-1 bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Nov. 15, 2021 | Term | 3% | 101.672 | 1.87%
|
|
|
| $25 million series 2014B-2 bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Nov. 15, 2020 | Term | 3% | 102.304 | 1.45%
|
|
|
| $45 million series 2014B-3 bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Nov. 15, 2020 | Term | 2.5% | 101.831 | 1.27%
|
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