By Sheri Kasprzak
New York, Dec. 24 - The Collier County Industrial Development Authority of Florida sold $190,295,000 of series 2013 continuing care community revenue bonds for Arlington of Naples, according to an official statement.
The deal included $128,295,000 of series 2013A bonds, $12 million of series 2013B-1 mandatory paydown securities and $50 million of series 2013B-2 mandatory paydown securities.
The 2013A bonds are due 2024, 2026, 2035, 2037, 2044 and 2049. The 2024 bonds have a 7% coupon priced at par and the 2026 bonds have a 7.25% coupon priced at par. The 2035 bonds have a 7.75% coupon priced at 97.444 and the 2037 bonds have an 8% coupon priced at 98.684. The 2044 bonds have an 8.125% coupon priced at 98.598 and the 2049 bonds have an 8.25% coupon priced at 98.572.
The 2013B-1 bonds are due May 15, 2021 and have a 6.875% coupon priced at par.
The 2013B-2 bonds are due May 15, 2020 and have a 6.5% coupon priced at par.
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.
| Issuer: | Collier County Industrial Development Authority, Fla./Arlington of Naples
|
| Issue: | Series 2013 continuing care community revenue bonds
|
| Amount: | $190,295,000
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Inc.
|
| Pricing date: | Dec. 13
|
| Settlement date: | Jan. 8
|
|
|
| $128,295,000 series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.36 million | 2024 | Term | 7% | 100
|
| $3,215,000 | 2026 | Term | 7.25% | 100
|
| $22.04 million | 2035 | Term | 7.75% | 97.444
|
| $5 million | 2037 | Term | 8% | 98.684
|
| $38.76 million | 2044 | Term | 8.125% | 98.598
|
| $52.92 million | 2049 | Term | 8.25% | 98.572
|
|
|
| $12 million series 2013B-1 mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| May 15, 2021 | Term | 6.875% | 100
|
|
|
| $50 million series 2013B-2 mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| May 15, 2020 | Term | 6.5% | 100
|
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