By Sheri Kasprzak
New York, June 27 - The Massachusetts Development Finance Agency priced $93,625,000 of series 2013 revenue bonds for the North Hill Communities, said a pricing sheet.
The bonds were sold through Ziegler Capital Inc. and M&T Securities Inc.
The offering included $50.14 million of series 2013A bonds, $6.66 million of series 2013B-1 mandatory paydown securities, $17,625,000 of series 2013B-2 mandatory paydown securities, $12,165,000 of series 2013B-3 mandatory paydown securities and $7,035,000 of series 2013B-4 mandatory paydown securities.
The 2013A bonds are due 2028, 2033 and 2043. The 2028 bonds have a 6.25% coupon priced at 98.777 to yield 6.375% and the 2033 bonds have a 6.25% coupon priced at 97.74 to yield 6.45%. The 2043 bonds have a 6.5% coupon priced at 97.66 to yield 6.68%.
The 2013B-1 bonds are due Nov. 15, 2020 with a 4.75% coupon priced at par.
The 2013B-2 bonds are due Nov. 15, 2018 with a 4.5% coupon priced at par.
The 2013B-3 bonds are due Nov. 15, 2017 with a 4% coupon priced at par.
The 2013B-4 bonds are due Nov. 15, 2016 with a 3.5% coupon priced at par.
Proceeds will be used to reimburse the authority for the construction of a senior living facility in Needham, Mass.
| Issuer: | Massachusetts Development Finance Agency/North Hill Communities
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $93,625,000
|
| Type: | Negotiated
|
| Underwriters: | Ziegler Capital Markets Inc. and M&T Securities Inc. (lead)
|
| Pricing date: | June 27
|
| Settlement date: | July 10
|
|
|
| $50.14 million series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $11.34 million | 2028 | Term | 6.25% | 98.777 | 6.375%
|
| $8,245,000 | 2033 | Term | 6.25% | 97.74 | 6.45%
|
| $30,555,000 | 2043 | Term | 6.5% | 97.66 | 6.68%
|
|
|
| $6.66 million series 2013B-1 mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2020 | Term | 4.75% | 100
|
|
|
| $17,625,000 series 2013B-2 mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2018 | Term | 4.5% | 100
|
|
|
| $12,165,000 series 2013B-3 mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2017 | Term | 4% | 100
|
|
|
| $7,035,000 series 2013B-4 mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2016 | Term | 3.5% | 100
|
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