By Sheri Kasprzak
New York, July 22 - The St. Johns County Industrial Development Authority in Florida sold $112.58 million of series 2010A revenue bonds for Presbyterian Retirement Communities on Thursday, said a pricing sheet.
The bonds (//A-) were sold through Raymond James & Associates Inc. and Herbert J. Sims & Co.
The bonds are due 2013 and 2017 to 2020 with term bonds due 2030, 2040 and 2045. The 2013 bonds have a 2.75% coupon priced at 99.771. The 2017 to 2020 bonds have coupons from 4.125% to 5%. The 2030 bonds have a 5.75% coupon priced at 99.412. The 2040 bonds have a 5.875% coupon priced at 98.543, and the 2045 bonds have a 6% coupon priced at 99.131.
Proceeds will be used to refund existing bonds, which were used to construct retirement communities in St. Petersburg, Jacksonville, Winter Park, Tallahassee, Orlando and Bradenton.
Based in St. Augustine, the authority provides financing for industrial development projects. Presbyterian Retirement Communities is based in Lakeland.
| Issuer: | St. Johns County Industrial Development Authority/Presbyterian Retirement Communities
|
| Issue: | Series 2010A revenue bonds
|
| Amount: | $112.58 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James & Associates Inc. and Herbert J. Sims & Co. (leads)
|
| Rating: | Fitch: A-
|
| Pricing date: | July 22
|
|
|
| Maturity | Type | Coupon | Price
|
| 2013 | Term | 2.75% | 99.771
|
| 2017 | Serial | 4.125% | 99.250
|
| 2018 | Serial | 4.5% | 99.667
|
| 2019 | Serial | 4.75% | 99.205
|
| 2020 | Serial | 5% | 99.688
|
| 2030 | Term | 5.75% | 99.412
|
| 2040 | Term | 5.875% | 98.543
|
| 2045 | Term | 6% | 99.131
|
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