By Sheri Kasprzak
New York, April 25 - The Palm Beach County Health Facilities Authority of Florida priced $189,885,000 of series 2014 revenue bonds for the Sinai Residences of Boca Raton, according to a pricing sheet.
The offering included $120,885,000 of series 2014A bonds, $14 million of series 2014B entrance fee principal redemption bonds and $55 million of series 2014C entrance fee principal redemption bonds.
The 2014A bonds are due 2024 to 2026 with term bonds due in 2029, 2034, 2039 and 2049. The serial coupons range from 6.75% to 6.85%, all priced at par. The 2029 bonds have a 7% coupon and the 2034 bonds have a 7.5% coupon both priced at par. The 2039 bonds have a 7.75% coupon priced at 98.578 to yield 7.375% and the 2049 bonds have a 7.875% coupon priced at 98.476 to yield 7.625%.
The 2014B bonds are due June 1, 2023 and have a 6.5% coupon priced at par.
The 2014C bonds are due June 1, 2021 and have a 6.25% coupon priced at par.
The bonds were sold through senior manager H.J. Sims & Co.
Proceeds will be used to fund a loan to Sinai Residences of Boca Raton for capital improvements to the corporation's facilities, as well as to refund existing notes.
| Issuer: | Palm Beach County Health Facilities Authority, Fla./Sinai Residences of Boca Raton
|
| Issue: | Series 2014 revenue bonds
|
| Amount: | $189,885,000
|
| Type: | Negotiated
|
| Underwriter: | H.J. Sims & Co. (lead)
|
| Pricing date: | April 24
|
| Settlement date: | May 21
|
|
|
| $120,885,000 series 2014A bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| 2024 | Serial | 6.75% | 100 | 6.75%
|
| 2025 | Serial | 6.80% | 100 | 6.80%
|
| 2026 | Serial | 6.85% | 100 | 6.85%
|
| 2029 | Term | 7.00% | 100 | 7.00%
|
| 2034 | Term | 7.50% | 100 | 7.50%
|
| 2039 | Term | 7.75% | 98.578 | 7.375%
|
| 2049 | Term | 7.875% | 98.476 | 7.625%
|
|
|
| $14 million series 2014B entrance fee principal redemption bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2023 | Term | 6.50% | 100
|
|
|
| $55 million series 2014C entrance fee principal redemption bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2021 | Term | 6.25% | 100
|
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