Public Finance, N.C., preps $117.35 million bond sale for SearStone

By Sheri Kasprzak

New York, April 24 - The Public Finance Authority of North Carolina plans to price $117,345,000 of series 2012 revenue bonds for SearStone Corp., according to a preliminary official statement.

The deal includes $56,145,000 of series 2012A revenue bonds, $60.39 million of series 2012B entrance fee principal redemption bonds and $810,000 of series 2012C taxable entrance fee principal redemption bonds.

The bonds will be sold on a negotiated basis with Herbert J. Sims & Co. Inc. and BB&T Capital Markets as the lead managers.

The 2012A bonds are due 2022, 2037 and 2047. The 2012B bonds are due in 2020, and the 2012C bonds are due in 2016.

Proceeds will be used to construct, equip and acquire a senior living community in Cary, N.C., that consists of 131 apartments, 38 estate homes, 8 assisted living units and a nursing facility.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.