New Issue: Tarrant County Cultural, Texas, sells $53.6 million senior housing debt

By Sheri Kasprzak

New York, May 6 – The Tarrant County Cultural Education Facilities Finance Corp. of Texas sold $53.6 million of series 2015B retirement facility revenue bonds for Northwest Senior Housing Corp. – Edgemere Project, said a pricing sheet.

The bonds (//BBB) were sold through Ziegler Capital Inc.

The bonds are due 2015 to 2020 with term bonds due in 2022, 2025, 2030, 2035 and 2045. The serial coupons range from 1% to 4%. The 2022 bonds have a 5% coupon priced at 112.194, and the 2025 bonds have a 5% coupon priced at 112.099. The 2030 bonds have a 5% coupon priced at 106.706, and the 2035 bonds have a 5% coupon priced at 104.553. The 2045 bonds have a 5% coupon priced at 103.076.

Proceeds will be used to finance capital projects, as well as to refinance the corporation’s series 2006B bonds issued to construct and equip retirement facilities for Northwest.

Issuer:	Tarrant County Cultural Education Facilities Finance Corp./Northwest Senior Housing Corp. – Edgemere Project
Issue:	Series 2015B retirement facility revenue bonds
Amount:	$53.6 million
Type:	Negotiated
Underwriter:	Ziegler Capital Inc.
Rating:	Fitch: BBB
Pricing date:	May 6
Amount	Maturity	Type	Coupon	Price
$210,000	2015	Serial	1%	100
$475,000	2016	Serial	2%	101.072
$485,000	2017	Serial	3%	103.224
$500,000	2018	Serial	4%	106.457
$520,000	2019	Serial	4%	106.71
$540,000	2020	Serial	4%	106.805
$1,155,000	2022	Term	5%	112.194
$1,955,000	2025	Term	5%	112.099
$3.97 million	2030	Term	5%	106.706
$5,065,000	2035	Term	5%	104.553
$38,725,000	2045	Term	5%	103.076

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