Published on 9/26/2012 in the Prospect News Municipals Daily.
New Issue: ABAG Finance prices $98.55 million of Odd Fellows Home revenue bonds
By Sheri Kasprzak
New York, Sept. 26 - The ABAG Finance Authority of Nonprofit Corporations sold $98.55 million of series 2012 insured senior living revenue bonds for the Odd Fellows Home of California, according to a term sheet.
The bonds were sold through Cain Brothers Inc.
The bonds are due 2013 to 2024 with term bonds due in 2032 and 2042. The serial coupons range from 3% to 5%. The 2032 bonds have a 5% coupon priced at 111.808 and the 2042 bonds have a split maturity with a 4% coupon priced at 96.899 and a 5% coupon priced at 108.015.
Proceeds will be used to prepay the series 1993 and 1999 certificates of participation issued for the Odd Fellows Home by the California Statewide Communities Development Authority, as well as to refund the corporation's series 2003A bonds.
| Issuer: | ABAG Finance Authority of Nonprofit Corporations/Odd Fellows Home of California
|
| Issue: | Series 2012 insured senior living revenue bonds
|
| Amount: | $98.55 million
|
| Type: | Negotiated
|
| Underwriter: | Cain Brothers Inc.
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.15 million | 2013 | Serial | 3% | 101.036
|
| $2,695,000 | 2014 | Serial | 3% | 103.07
|
| $2.77 million | 2015 | Serial | 4% | 107.193
|
| $2.88 million | 2016 | Serial | 4% | 109.389
|
| $3 million | 2017 | Serial | 5% | 114.956
|
| $3.15 million | 2018 | Serial | 5% | 116.21
|
| $3,305,000 | 2019 | Serial | 5% | 116.84
|
| $3,475,000 | 2020 | Serial | 5% | 117.231
|
| $3,645,000 | 2021 | Serial | 5% | 116.83
|
| $3,825,000 | 2022 | Serial | 5% | 117.221
|
| $4.02 million | 2023 | Serial | 5% | 117.311
|
| $4.22 million | 2024 | Serial | 5% | 116.339
|
| $42,295,000 | 2032 | Term | 5% | 111.808
|
| $5 million | 2042 | Term | 4% | 96.899
|
| $13.12 million | 2042 | Term | 5% | 108.015
|
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