By Sheri Kasprzak
New York, June 24 – The Public Finance Authority of Wisconsin sold $60.61 million of series 2014 senior living revenue bonds for Rose Villa, according to a pricing sheet.
The deal included $42.11 million of series 2014A fixed-rate bonds, $3.5 million of series 2014B-1 tax-exempt mandatory paydown securities, $3.5 million of series 2014B-2 tax-exempt mandatory paydown securities and $11.5 million of series 2014B-3 tax-exempt mandatory paydown securities.
The 2014A bonds are due 2024, 2029, 2034, 2044 and 2049. The 2024 bonds have a 5% coupon priced at 99.594 and the 2029 bonds have a 5.125% coupon priced at 97.656. The 2034 bonds have a 5.5% coupon priced at 98.488 and the 2044 bonds have a 5.75% coupon priced at par. The 2049 bonds have a 6% coupon priced at 100.951.
The 2014B-1 bonds are due Nov. 15, 2020 and bear interest at 4.5% priced at par.
The 2014B-2 bonds are due Nov. 15, 2020 and bear interest at 4.25% priced at par.
The 2014B-3 bonds are due Nov. 15, 2019 and bear interest at 3.75% priced at par.
The bonds were sold through Ziegler Capital Inc.
Proceeds will be used to finance the construction of 75 new independent living apartments and a commons area, among other improvements at the Rose Villa assisted living facility in unincorporated Clackamas County, Ore., just outside of Portland.
| Issuer: | Public Finance Authority/Rose Villa
|
| Issue: | Series 2014 senior living revenue bonds
|
| Amount: | $60.61 million
|
| Type: | Negotiated
|
| Underwriter: | Ziegler Capital Inc.
|
| Pricing date: | June 24
|
| Settlement date: | July 3
|
|
|
| $42.11 million series 2014A fixed-rate bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.81 million | 2024 | Term | 5% | 99.594
|
| $4,155,000 | 2029 | Term | 5.125% | 97.656
|
| $5,365,000 | 2034 | Term | 5.5% | 98.488
|
| $16,385,000 | 2044 | Term | 5.75% | 100
|
| $12,395,000 | 2049 | Term | 6% | 100.951
|
|
|
| $3.5 million series 2014B-1 tax-exempt mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2020 | Term | 4.5% | 100
|
|
|
| $3.5 million series 2014B-2 tax-exempt mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2020 | Term | 4.25% | 100
|
|
|
| $11.5 million series 2014B-3 tax-exempt mandatory paydown securities
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2019 | Term | 3.75% | 100
|
|
|
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