Collier County IDA, Fla., plans $189.84 million continuing care bonds

By Sheri Kasprzak

New York, Oct. 24 - The Collier County Industrial Development Authority of Florida plans to price $189.84 million of series 2013 continuing care community revenue bonds for the Arlington of Naples project, according to a preliminary official statement.

The bonds will be offered through underwriter Zielger Capital Inc.

The offering includes $127.84 million of series 2013A bonds, $12 million of series 2013B-1 mandatory paydown securities and $50 million of series 2013B-2 mandatory paydown securities.

The maturities have not been set.

Proceeds will be used to finance capital improvements at the Arlington of Naples continuing care facility, as well as to refund the authority's series 2011 notes issued for the project.

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