Red River Health, Texas, preps $74.86 million retirement facility debt

By Sheri Kasprzak

New York, Feb. 12 - The Red River Health Facilities Development Corp. of Texas sold $74.86 million of series 2014 retirement facility revenue bonds for the MRC The Crossings project, according to a preliminary official statement.

The deal includes $61.86 million of series 2014A fixed-rate bonds, $7.85 million of series 2014B-1 tax-exempt mandatory paydown securities, $4.5 million of series 2014B-2 tax-exempt mandatory paydown securities and $650,000 of series 2014C taxable mandatory paydown securities.

The bonds will be sold through Ziegler Capital Inc.

The maturities have not been set.

Proceeds will be used to acquire property and construct 116 independent living apartments for the MRC The Crossings retirement community in League City, Texas.

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