Tarrant County Cultural, Texas, organizes $85.1 million bond offering

By Sheri Kasprzak

New York, Nov. 18 – The Tarrant County Cultural Education Facilities Finance Corp. of Texas is expected to come to market with $85.1 million of series 2014A revenue bonds for the Trinity Terrace project, according to a preliminary official statement.

The deal includes $63,885,000 of series 2014A-1 bonds and $21,215,000 of series 2014A-2 bonds.

The maturities have not been set.

Cain Brothers Inc. is the senior manager for the bonds (//BBB+).

Proceeds will be used to finance the construction, acquisition, improvement and repair of health and senior living facilities for Trinity Terrace, a retirement community in Fort Worth, Texas, as well as to refinance the corporation’s series 2011 bonds.

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